Barlow Wealth Partners Inc. Has $1.52 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Barlow Wealth Partners Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,180 shares of the business services provider’s stock after selling 883 shares during the quarter. Barlow Wealth Partners Inc.’s holdings in Automatic Data Processing were worth $1,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moloney Securities Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth $209,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth about $470,000. Dash Acquisitions Inc. increased its stake in shares of Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after buying an additional 2,781 shares during the period. Finally, DRW Securities LLC bought a new position in Automatic Data Processing in the 3rd quarter valued at approximately $951,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ADP. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 in the last three months. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $298.15 on Wednesday. The stock has a market cap of $121.48 billion, a P/E ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79. The business’s fifty day moving average is $297.69 and its 200 day moving average is $281.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the company earned $2.08 earnings per share. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.