Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Increased by Soltis Investment Advisors LLC

Soltis Investment Advisors LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,983 shares of the business services provider’s stock after buying an additional 70 shares during the period. Soltis Investment Advisors LLC’s holdings in Automatic Data Processing were worth $873,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADP. Exchange Traded Concepts LLC raised its stake in shares of Automatic Data Processing by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after buying an additional 861 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of Automatic Data Processing by 3.7% during the third quarter. Koshinski Asset Management Inc. now owns 6,756 shares of the business services provider’s stock worth $1,870,000 after purchasing an additional 244 shares during the period. Smith Chas P & Associates PA Cpas acquired a new stake in shares of Automatic Data Processing during the third quarter worth $22,286,000. Orca Investment Management LLC raised its position in shares of Automatic Data Processing by 13.9% during the third quarter. Orca Investment Management LLC now owns 3,317 shares of the business services provider’s stock worth $918,000 after purchasing an additional 406 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Automatic Data Processing by 1.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,726 shares of the business services provider’s stock worth $2,415,000 after purchasing an additional 104 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $306.93 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. The stock’s 50-day moving average is $297.20 and its two-hundred day moving average is $286.94. The firm has a market cap of $125.06 billion, a P/E ratio of 32.01, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho boosted their target price 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. Barclays boosted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $293.55.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 in the last three months. Insiders own 0.21% of the company’s stock.

Automatic Data Processing 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.