Mission Wealth Management LP Has $2.05 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mission Wealth Management LP boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,794 shares of the business services provider’s stock after buying an additional 217 shares during the period. Mission Wealth Management LP’s holdings in Automatic Data Processing were worth $2,049,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $35,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ADP shares. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $258.36.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 over the last three months. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.8 %

ADP opened at $241.89 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $246.29 and its 200 day simple moving average is $239.06. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The stock has a market cap of $99.37 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

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 for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.96 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

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.