Tanager Wealth Management LLP Has $255,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tanager Wealth Management LLP grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.5% during the 4th quarter, Holdings Channel reports. The firm owned 1,090 shares of the business services provider’s stock after buying an additional 76 shares during the period. Tanager Wealth Management LLP’s holdings in Automatic Data Processing were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $25,000. Coppell Advisory Solutions LLC bought a new stake in Automatic Data Processing in the second quarter valued at approximately $30,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $33,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $31,000. Finally, Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $1.32 during trading hours on Friday, hitting $243.31. The company’s stock had a trading volume of 1,638,700 shares, compared to its average volume of 1,816,781. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a fifty day simple moving average of $247.36 and a 200-day simple moving average of $239.20. The company has a market capitalization of $99.95 billion, a P/E ratio of 28.29, a PEG ratio of 2.28 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADP. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. 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 note on Thursday, February 1st. Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.