SOA Wealth Advisors LLC. Invests $70,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)


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SOA Wealth Advisors LLC. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 420 shares of the business services provider’s stock, valued at approximately $70,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eudaimonia Partners LLC increased its holdings in shares of Automatic Data Processing by 1.0% during the 3rd quarter. Eudaimonia Partners LLC now owns 5,590 shares of the business services provider’s stock worth $780,000 after buying an additional 57 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Automatic Data Processing by 0.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 11,089 shares of the business services provider’s stock worth $1,954,000 after buying an additional 61 shares during the last quarter. Symmetry Partners LLC increased its holdings in shares of Automatic Data Processing by 0.8% during the 4th quarter. Symmetry Partners LLC now owns 7,772 shares of the business services provider’s stock worth $1,369,000 after buying an additional 63 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Automatic Data Processing by 1.5% during the 4th quarter. EP Wealth Advisors LLC now owns 4,267 shares of the business services provider’s stock worth $752,000 after buying an additional 65 shares during the last quarter. Finally, Glassman Wealth Services increased its holdings in shares of Automatic Data Processing by 33.3% during the 4th quarter. Glassman Wealth Services now owns 264 shares of the business services provider’s stock worth $47,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds own 79.65% of the company’s stock.

Automatic Data Processing stock opened at $185.81 on Thursday. The stock has a market cap of $79.52 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.39 and a beta of 0.70. The company has a fifty day simple moving average of $181.40 and a 200-day simple moving average of $167.52. Automatic Data Processing, Inc. has a 12-month low of $127.31 and a 12-month high of $193.76. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Tuesday, January 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.23. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Friday, June 11th will be paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 62.84%.

A number of research firms recently weighed in on ADP. Barclays increased their price objective on shares of Automatic Data Processing from $180.00 to $197.00 and gave the stock an “overweight” rating in a research report on Monday, February 1st. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $197.00 to $200.00 and gave the stock a “hold” rating in a research report on Wednesday, March 24th. Citigroup raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $190.00 in a research report on Friday, January 29th. Morgan Stanley raised their price target on shares of Automatic Data Processing from $159.00 to $171.00 and gave the company an “equal weight” rating in a research report on Thursday, January 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Automatic Data Processing from $150.00 to $173.00 and gave the company a “hold” rating in a research report on Thursday, January 28th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $168.53.

In related news, VP Deborah L. Dyson sold 600 shares of Automatic Data Processing stock in a transaction on Monday, January 11th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the sale, the vice president now directly owns 24,786 shares in the company, valued at approximately $4,236,670.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Sackman sold 576 shares of Automatic Data Processing stock in a transaction on Monday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $106,560.00. Following the sale, the vice president now owns 23,221 shares in the company, valued at $4,295,885. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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