TRUE Private Wealth Advisors Has $512,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

TRUE Private Wealth Advisors grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,197 shares of the business services provider’s stock after buying an additional 447 shares during the period. TRUE Private Wealth Advisors’ holdings in Automatic Data Processing were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Scissortail Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $905,000. Tyche Wealth Partners LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $1,613,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Automatic Data Processing by 47.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 223,944 shares of the business services provider’s stock valued at $52,172,000 after acquiring an additional 71,703 shares in the last quarter. Everence Capital Management Inc. grew its position in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. increased its holdings in Automatic Data Processing by 4.3% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,239 shares of the business services provider’s stock worth $522,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

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

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $242.90 on Thursday. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a market cap of $99.78 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. The firm has a 50-day moving average of $247.54 and a 200-day moving average of $239.18. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the business posted $1.96 earnings per share. Automatic Data Processing’s revenue was up 6.3% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.31%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ADP shares. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI raised their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $254.58.

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.