Everpar Advisors LLC Buys Shares of 1,936 Automatic Data Processing, Inc. (NASDAQ:ADP)

Everpar Advisors LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,936 shares of the business services provider’s stock, valued at approximately $451,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC lifted its position in Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares during the last quarter. 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 valued at $752,703,000 after purchasing an additional 905,043 shares during the period. Envestnet Asset Management Inc. increased its position in Automatic Data Processing by 65.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after buying an additional 555,184 shares during the period. Ameriprise Financial Inc. lifted its stake in Automatic Data Processing by 18.3% in the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after buying an additional 553,946 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $107,401,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, 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 directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,966 shares of company stock valued at $749,524. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. TD Cowen cut their price objective on shares of 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. Barclays raised their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Trading Down 0.9 %

ADP stock traded down $2.18 on Wednesday, hitting $242.94. 1,133,452 shares of the company were exchanged, compared to its average volume of 1,774,157. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $99.43 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The business’s fifty day moving average is $245.29 and its two-hundred day moving average is $238.95.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 2.31%. Automatic Data Processing’s payout ratio is currently 62.50%.

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.