Centricity Wealth Management LLC Invests $316,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Centricity Wealth Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,078 shares of the business services provider’s stock, valued at approximately $316,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Tower Wealth Partners Inc. increased its stake in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after acquiring an additional 35 shares during the period. Harbour Investments Inc. lifted its position in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares during the period. Aspiriant LLC boosted its holdings in Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares in the last quarter. Precedent Wealth Partners LLC increased its position in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares during the period. Finally, Riversedge Advisors LLC raised its stake in shares of Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP opened at $311.97 on Friday. The firm’s 50-day moving average is $298.44 and its two-hundred day moving average is $289.74. The company has a market capitalization of $127.12 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $313.72. 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 (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho boosted their target price on shares of 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 upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $293.55.

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.