Apollon Wealth Management LLC Acquires 5,955 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Apollon Wealth Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 65.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,085 shares of the business services provider’s stock after purchasing an additional 5,955 shares during the period. Apollon Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the third quarter worth about $25,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $35,000. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $41,000. Raleigh Capital Management Inc. boosted its position in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth $42,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. TD Cowen decreased their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday. Barclays increased their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Trading Up 0.4 %

Automatic Data Processing stock traded up $0.85 during mid-day trading on Monday, hitting $242.74. The company’s stock had a trading volume of 1,108,750 shares, compared to its average volume of 1,788,093. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market cap of $99.35 billion, a PE ratio of 27.09, a P/E/G ratio of 2.30 and a beta of 0.78. The company has a 50 day moving average of $245.41 and a 200-day moving average of $238.92. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.31%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.