IFP Advisors Inc Has $4.52 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

IFP Advisors Inc boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,456 shares of the business services provider’s stock after buying an additional 3,000 shares during the quarter. IFP Advisors Inc’s holdings in Automatic Data Processing were worth $4,524,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC lifted its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter valued at $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ADP shares. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $312.20 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $299.03 and a two-hundred day simple moving average of $290.89. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $314.06. The firm has a market capitalization of $127.21 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity

In related news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

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.