Fourth Dimension Wealth LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fourth Dimension Wealth LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 129 shares of the business services provider’s stock, valued at approximately $38,000.

Other institutional investors have also modified their holdings of the company. Vise Technologies Inc. boosted its position in Automatic Data Processing by 71.9% during the 4th quarter. Vise Technologies Inc. now owns 6,401 shares of the business services provider’s stock valued at $1,874,000 after purchasing an additional 2,677 shares during the period. Connecticut Wealth Management LLC lifted its stake in Automatic Data Processing by 11.8% in the fourth quarter. Connecticut Wealth Management LLC now owns 7,721 shares of the business services provider’s stock valued at $2,260,000 after buying an additional 816 shares during the last quarter. City National Bank of Florida MSD acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at $231,000. Cornerstone Advisory LLC grew its position in shares of Automatic Data Processing by 9.4% during the fourth quarter. Cornerstone Advisory LLC now owns 2,642 shares of the business services provider’s stock worth $814,000 after acquiring an additional 226 shares during the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its holdings in shares of Automatic Data Processing by 1.0% in the 4th quarter. Pinkerton Retirement Specialists LLC now owns 16,538 shares of the business services provider’s stock worth $4,841,000 after acquiring an additional 157 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.2%

Shares of Automatic Data Processing stock opened at $321.09 on Friday. The business has a fifty day simple moving average of $301.13 and a 200-day simple moving average of $301.08. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $323.66. The firm has a market cap of $130.34 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.88 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insider Activity

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADP. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $305.64.

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.