Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 42.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,725 shares of the business services provider’s stock after purchasing an additional 1,117 shares during the quarter. Proficio Capital Partners LLC’s holdings in Automatic Data Processing were worth $1,090,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC raised its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, 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. In the last three months, insiders have sold 5,951 shares of company stock valued at $1,762,074. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Barclays upped 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. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Trading Down 0.4 %

NASDAQ ADP opened at $297.51 on Friday. 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 company has a market capitalization of $121.22 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The firm’s fifty day moving average price is $302.91 and its 200 day moving average price is $295.08.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Automatic Data Processing Company 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.