Insight Wealth Strategies LLC Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Insight Wealth Strategies LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,997 shares of the business services provider’s stock, valued at approximately $4,683,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $27,000. Dunhill Financial LLC boosted its stake in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $4.27 on Monday, reaching $287.42. 703,314 shares of the stock were exchanged, compared to its average volume of 913,665. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $117.11 billion, a PE ratio of 30.67, a P/E/G ratio of 3.50 and a beta of 0.79. The firm’s 50 day moving average is $298.43 and its 200-day moving average is $277.08. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the business posted $2.08 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.14%. Automatic Data Processing’s dividend payout ratio is 65.74%.

Analyst Ratings Changes

Several research firms have commented on ADP. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Barclays boosted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

About Automatic Data Processing

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.