FourThought Financial Partners LLC Has $1.21 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

FourThought Financial Partners LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,209 shares of the business services provider’s stock after buying an additional 61 shares during the period. FourThought Financial Partners LLC’s holdings in Automatic Data Processing were worth $1,214,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Charles Schwab Investment Management Inc. raised its stake in shares of Automatic Data Processing by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after buying an additional 198,008 shares during the last quarter. Northern Trust Corp raised its position in shares of Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after acquiring an additional 288,234 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Automatic Data Processing by 1.5% in the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock valued at $1,261,327,000 after purchasing an additional 77,187 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after purchasing an additional 553,946 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Automatic Data Processing by 40.7% in the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after purchasing an additional 905,043 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly 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 3,829 shares of company stock valued at $965,274 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of recent analyst reports. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Down 0.1 %

NASDAQ ADP traded down $0.14 on Friday, reaching $241.89. The company had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The company’s fifty day moving average is $245.63 and its 200-day moving average is $238.95. The firm has a market capitalization of $99.37 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm earned $2.52 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.