FRG Family Wealth Advisors LLC Has $7.38 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

FRG Family Wealth Advisors LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,201 shares of the business services provider’s stock after selling 329 shares during the quarter. Automatic Data Processing comprises 1.3% of FRG Family Wealth Advisors LLC’s portfolio, making the stock its 18th largest position. FRG Family Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $7,377,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Littlejohn Financial Services Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $708,000. Bath Savings Trust Co boosted its position in shares of Automatic Data Processing by 2.0% in the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock valued at $29,068,000 after acquiring an additional 1,951 shares during the period. Principal Financial Group Inc. raised its stake in Automatic Data Processing by 4.5% in the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after purchasing an additional 22,766 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock worth $194,117,000 after acquiring an additional 51,828 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC increased its position in Automatic Data Processing by 121.7% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider’s stock valued at $3,776,000 after purchasing an additional 7,080 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.1 %

Shares of ADP opened at $295.00 on Thursday. The stock has a market cap of $120.20 billion, a PE ratio of 30.76, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $302.79 and its two-hundred day moving average is $297.29.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,364 shares of company stock valued at $1,613,094. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ADP. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $302.30.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.