WealthPLAN Partners LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)


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WealthPLAN Partners LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.8% during the 4th quarter, Holdings Channel reports. The firm owned 46,321 shares of the business services provider’s stock after buying an additional 9,210 shares during the quarter. WealthPLAN Partners LLC’s holdings in Automatic Data Processing were worth $7,900,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Glassman Wealth Services lifted its holdings in shares of Automatic Data Processing by 67.8% in the 3rd quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock valued at $28,000 after buying an additional 80 shares during the period. Advisory Alpha LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $29,000. Bainco International Investors acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at about $34,000. Sun Life Financial INC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $36,000. Finally, Exchange Traded Concepts LLC raised its holdings in Automatic Data Processing by 1,005.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 221 shares of the business services provider’s stock worth $39,000 after purchasing an additional 201 shares during the period. 79.65% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have commented on ADP shares. Wells Fargo & Company increased their target price on Automatic Data Processing from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, January 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Automatic Data Processing from $150.00 to $173.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. BMO Capital Markets increased their price objective on Automatic Data Processing from $149.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, October 29th. Barclays increased their price objective on Automatic Data Processing from $180.00 to $197.00 and gave the stock an “overweight” rating in a research report on Monday, February 1st. Finally, Citigroup upgraded Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $190.00 in a research report on Friday, January 29th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $166.65.

In other Automatic Data Processing news, VP Brock Albinson sold 2,151 shares of the firm’s stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the transaction, the vice president now owns 38,685 shares of the company’s stock, valued at $6,807,399.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Deborah L. Dyson sold 600 shares of the firm’s stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $170.93, for a total value of $102,558.00. Following the transaction, the vice president now directly owns 24,786 shares in the company, valued at approximately $4,236,670.98. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Shares of NASDAQ ADP traded up $0.52 during mid-day trading on Tuesday, hitting $171.34. The company had a trading volume of 52,097 shares, compared to its average volume of 1,975,022. The company has a market capitalization of $73.32 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.70. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. Automatic Data Processing, Inc. has a 1-year low of $103.11 and a 1-year high of $179.46. The business’s 50-day simple moving average is $166.33 and its 200 day simple moving average is $157.65.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Tuesday, January 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.23. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.57 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned $1.52 earnings per share. On average, analysts expect that Automatic Data Processing, Inc. will post 5.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Friday, March 12th will be paid a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Thursday, March 11th. Automatic Data Processing’s dividend payout ratio is presently 62.84%.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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