Provence Wealth Management Group Has $285,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Provence Wealth Management Group raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20,266.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,222 shares of the business services provider’s stock after buying an additional 1,216 shares during the period. Provence Wealth Management Group’s holdings in Automatic Data Processing were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Management Solutions LLC bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $211,000. Sage Mountain Advisors LLC lifted its position in Automatic Data Processing by 3.9% in the third quarter. Sage Mountain Advisors LLC now owns 1,865 shares of the business services provider’s stock worth $449,000 after purchasing an additional 70 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in Automatic Data Processing by 402.7% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 4,112 shares of the business services provider’s stock worth $989,000 after buying an additional 3,294 shares in the last quarter. Silver Lake Advisory LLC increased its holdings in Automatic Data Processing by 0.4% in the 3rd quarter. Silver Lake Advisory LLC now owns 17,798 shares of the business services provider’s stock valued at $4,282,000 after buying an additional 77 shares during the period. Finally, Monument Capital Management lifted its holdings in shares of Automatic Data Processing by 18.5% during the 3rd quarter. Monument Capital Management now owns 1,135 shares of the business services provider’s stock worth $273,000 after acquiring an additional 177 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADP. Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday. Mizuho increased their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $255.42.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’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 transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,829 shares of company stock worth $965,274. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

ADP traded down $0.14 during trading on Friday, reaching $241.89. 1,491,532 shares of the company’s stock were exchanged, compared to its average volume of 1,451,137. The company’s fifty day moving average price is $245.63 and its 200-day moving average price is $239.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.52 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

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.