MONECO Advisors LLC Purchases 9,745 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

MONECO Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 561.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,482 shares of the business services provider’s stock after purchasing an additional 9,745 shares during the quarter. MONECO Advisors LLC’s holdings in Automatic Data Processing were worth $2,675,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC increased its holdings in shares of Automatic Data Processing by 3.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock valued at $1,103,000 after acquiring an additional 158 shares in the last quarter. Avestar Capital LLC purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $242,000. Brookstone Capital Management boosted its position in Automatic Data Processing by 96.3% in the 3rd quarter. Brookstone Capital Management now owns 14,186 shares of the business services provider’s stock worth $3,491,000 after purchasing an additional 6,958 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $98,000. Finally, Suncoast Equity Management boosted its position in Automatic Data Processing by 2.4% in the 3rd quarter. Suncoast Equity Management now owns 96,249 shares of the business services provider’s stock worth $23,156,000 after purchasing an additional 2,238 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Evercore ISI raised their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $258.36.

Automatic Data Processing Stock Performance

ADP traded down $2.06 during trading on Tuesday, hitting $241.89. 1,944,998 shares of the stock were exchanged, compared to its average volume of 1,787,675. The firm has a market capitalization of $99.37 billion, a P/E ratio of 28.24, a PEG ratio of 2.28 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The stock has a fifty day moving average price of $246.51 and a two-hundred day moving average price of $239.10. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

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 return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $1.96 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s payout ratio is 65.19%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’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 transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Company Profile

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.