Wealthfront Inc. Boosts Stake in Automatic Data Processing (ADP)

Wealthfront Inc. increased its position in Automatic Data Processing (NASDAQ:ADP) by 8.0% in the 4th quarter, Holdings Channel reports. The firm owned 12,837 shares of the business services provider’s stock after buying an additional 954 shares during the period. Wealthfront Inc.’s holdings in Automatic Data Processing were worth $1,504,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $103,000. Calton & Associates Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $118,000. Acrospire Investment Management LLC purchased a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $102,000. Wealthcare Advisory Partners LLC purchased a new stake in Automatic Data Processing during the 3rd quarter valued at approximately $114,000. Finally, Cerebellum GP LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $129,000. 78.84% of the stock is owned by hedge funds and other institutional investors.

Several analysts have commented on the company. Barclays upped their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Stifel Nicolaus increased their target price on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $136.00 target price for the company in a research note on Tuesday, January 23rd. BidaskClub raised Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada reissued a “neutral” rating on shares of Automatic Data Processing in a research note on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $118.43.

Automatic Data Processing (NASDAQ:ADP) opened at $115.41 on Wednesday. The stock has a market capitalization of $51,499.07, a P/E ratio of 29.98, a PEG ratio of 2.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Automatic Data Processing has a one year low of $95.50 and a one year high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. research analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 65.45%.

In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the sale, the chief executive officer now owns 124,722 shares in the company, valued at approximately $14,728,420.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Stuart Sackman sold 238 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $121.65, for a total value of $28,952.70. Following the completion of the sale, the vice president now owns 18,676 shares in the company, valued at approximately $2,271,935.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 219,666 shares of company stock worth $25,650,681. Insiders own 0.25% of the company’s stock.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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