Mather Group LLC. Acquires 1,679 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mather Group LLC. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,617 shares of the business services provider’s stock after buying an additional 1,679 shares during the period. Mather Group LLC.’s holdings in Automatic Data Processing were worth $3,405,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC grew its stake in shares of Automatic Data Processing by 3.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock valued at $1,103,000 after buying an additional 158 shares in the last quarter. Avestar Capital LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $242,000. Brookstone Capital Management increased its stake in shares of Automatic Data Processing by 96.3% during the 3rd quarter. Brookstone Capital Management now owns 14,186 shares of the business services provider’s stock worth $3,491,000 after purchasing an additional 6,958 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $98,000. Finally, Suncoast Equity Management lifted its stake in Automatic Data Processing by 2.4% in the 3rd quarter. Suncoast Equity Management now owns 96,249 shares of the business services provider’s stock valued at $23,156,000 after purchasing an additional 2,238 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 over the last three months. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $243.95 on Tuesday. The firm’s fifty day simple moving average is $246.51 and its two-hundred day simple moving average is $239.10. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $100.21 billion, a P/E ratio of 28.40, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADP. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $258.36.

Automatic Data Processing 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.