Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Hutchens & Kramer Investment Management Group LLC

Hutchens & Kramer Investment Management Group LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,419 shares of the business services provider’s stock after purchasing an additional 87 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Automatic Data Processing were worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Matrix Asset Advisors Inc. NY acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $319,000. YHB Investment Advisors Inc. boosted its holdings in Automatic Data Processing by 9.1% in the fourth quarter. YHB Investment Advisors Inc. now owns 4,359 shares of the business services provider’s stock valued at $1,276,000 after purchasing an additional 363 shares in the last quarter. Acorn Creek Capital LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $215,000. BankPlus Wealth Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $844,000. Finally, Cornerstone Wealth Group LLC lifted its stake in Automatic Data Processing by 1.3% in the fourth quarter. Cornerstone Wealth Group LLC now owns 23,611 shares of the business services provider’s stock valued at $6,912,000 after buying an additional 296 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $300.15 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $297.13 and a 200-day simple moving average of $282.77. The stock has a market capitalization of $122.30 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping 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 analyst estimates of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADP shares. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price objective on 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s 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 sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 over the last quarter. Company insiders own 0.21% of the company’s stock.

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.