2,396 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Atlas Legacy Advisors LLC

Atlas Legacy Advisors LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,396 shares of the business services provider’s stock, valued at approximately $701,000.

Several other institutional investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $144,000. Lorne Steinberg Wealth Management Inc. boosted its holdings in Automatic Data Processing by 1.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 8,485 shares of the business services provider’s stock valued at $2,484,000 after purchasing an additional 109 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Automatic Data Processing by 41.2% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,049 shares of the business services provider’s stock worth $4,991,000 after purchasing an additional 4,975 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its holdings in Automatic Data Processing by 1.1% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,491 shares of the business services provider’s stock worth $1,315,000 after purchasing an additional 51 shares during the period. Finally, Valley Wealth Managers Inc. raised its position in Automatic Data Processing by 8.4% in the 4th quarter. Valley Wealth Managers Inc. now owns 1,695 shares of the business services provider’s stock valued at $496,000 after purchasing an additional 132 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of ADP opened at $309.89 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The stock has a market cap of $126.27 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The firm has a fifty day moving average price of $297.93 and a 200 day moving average price of $289.42.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of analyst reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group raised their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $293.55.

About Automatic Data Processing

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.