Blue Barn Wealth LLC Invests $207,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Blue Barn Wealth LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 888 shares of the business services provider’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position 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 valued at $2,085,849,000 after buying an additional 198,008 shares during the period. Northern Trust Corp grew its holdings 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 worth $1,420,028,000 after acquiring an additional 288,234 shares during the period. Wellington Management Group LLP raised its position 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 worth $1,261,327,000 after acquiring an additional 77,187 shares in the last quarter. 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% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

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 stock was 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 approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 2,966 shares of company stock worth $749,524 in the last ninety days. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Mizuho lifted their target price on shares of 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 reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $2.38 during midday trading on Tuesday, reaching $245.12. 1,202,179 shares of the company’s stock traded hands, compared to its average volume of 1,781,435. 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 one year low of $205.53 and a one year high of $256.84. The company has a market cap of $100.33 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.30 and a beta of 0.78. The stock has a 50 day moving average of $245.29 and a 200 day moving average of $238.95.

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

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. Automatic Data Processing’s payout ratio is 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.