Bfsg LLC Acquires Shares of 180 Automatic Data Processing, Inc. (NASDAQ:ADP)

Bfsg LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 180 shares of the business services provider’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ardent Capital Management Inc. bought a new position in shares of Automatic Data Processing during the third quarter valued at $392,000. Americana Partners LLC raised its holdings in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after buying an additional 660 shares during the last quarter. Everence Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after buying an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $1,635,000. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last quarter. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $245.95 on Friday. The firm has a market capitalization of $101.03 billion, a P/E ratio of 28.68, a PEG ratio of 2.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The business has a 50-day moving average of $246.89 and a 200-day moving average of $239.31. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm earned $1.96 EPS. Automatic Data Processing’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

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.