Coldstream Capital Management Inc. Purchases Shares of 7,231 Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted by Don Miller on Mar 19th, 2023

Coldstream Capital Management Inc. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,231 shares of the business services provider’s stock, valued at approximately $1,727,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Wellington Shields & Co. LLC bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $29,000. Cowa LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $34,000. Timber Creek Capital Management LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $45,000. Bell Investment Advisors Inc increased its position in shares of Automatic Data Processing by 33.8% during the 3rd quarter. Bell Investment Advisors Inc now owns 210 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 53 shares during the last quarter. Finally, Coston McIsaac & Partners bought a new position in shares of Automatic Data Processing during the 2nd quarter valued at about $48,000. Hedge funds and other institutional investors own 79.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADP shares. Wolfe Research increased their price objective on Automatic Data Processing from $220.00 to $225.00 in a research report on Thursday, January 5th. Barclays reduced their price target on Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a research report on Sunday, January 29th. Mizuho reduced their price target on Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. JPMorgan Chase & Co. reduced their price target on Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, January 26th. Finally, StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $246.10.

Insider Activity

In other news, VP Donald Weinstein sold 5,075 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the completion of the transaction, the vice president now owns 32,950 shares in the company, valued at approximately $8,072,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Donald Weinstein sold 5,075 shares of the firm’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the completion of the transaction, the vice president now owns 32,950 shares in the company, valued at approximately $8,072,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Carlos A. Rodriguez sold 37,594 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $241.29, for a total value of $9,071,056.26. Following the completion of the transaction, the insider now owns 44,481 shares of the company’s stock, valued at approximately $10,732,820.49. The disclosure for this sale can be found here. Insiders sold a total of 106,350 shares of company stock worth $25,301,670 in the last quarter. 0.33% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $213.22 on Friday. The firm has a market cap of $88.35 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.19 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $196.61 and a fifty-two week high of $274.92. The business’s 50 day moving average price is $226.90 and its 200-day moving average price is $237.20. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.99 and a current ratio of 0.99.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.39 billion. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $1.65 EPS. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 8.12 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 9th. Automatic Data Processing’s payout ratio is presently 66.40%.

Automatic Data Processing Profile

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.