Alliance Wealth Advisors LLC UT Grows Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alliance Wealth Advisors LLC UT boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,966 shares of the business services provider’s stock after purchasing an additional 158 shares during the quarter. Automatic Data Processing comprises 1.0% of Alliance Wealth Advisors LLC UT’s investment portfolio, making the stock its 25th largest holding. Alliance Wealth Advisors LLC UT’s holdings in Automatic Data Processing were worth $3,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Automatic Data Processing by 11.4% during the 4th quarter. Russell Investments Group Ltd. now owns 430,712 shares of the business services provider’s stock worth $100,326,000 after buying an additional 44,191 shares during the last quarter. Fulton Breakefield Broenniman LLC raised its position in Automatic Data Processing by 1.0% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 45,494 shares of the business services provider’s stock worth $10,599,000 after buying an additional 429 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in Automatic Data Processing by 18.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 22,401 shares of the business services provider’s stock worth $5,219,000 after buying an additional 3,555 shares during the last quarter. Mountain Pacific Investment Advisers Inc. ID raised its position in Automatic Data Processing by 6.7% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 14,276 shares of the business services provider’s stock worth $3,326,000 after buying an additional 900 shares during the last quarter. Finally, Alesco Advisors LLC raised its position in Automatic Data Processing by 12.3% during the 4th quarter. Alesco Advisors LLC now owns 1,403 shares of the business services provider’s stock worth $327,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the 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 transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 in the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 1.3 %

Shares of Automatic Data Processing stock traded down $3.27 during mid-day trading on Friday, hitting $243.07. 1,555,489 shares of the stock were exchanged, compared to its average volume of 1,384,926. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The company has a 50-day simple moving average of $246.70 and a 200 day simple moving average of $239.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the company earned $1.96 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is currently 65.19%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $254.58.

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.