Cerity Partners LLC Purchases 104 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cerity Partners LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 184,281 shares of the business services provider’s stock after purchasing an additional 104 shares during the period. Cerity Partners LLC’s holdings in Automatic Data Processing were worth $53,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred 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 owns 6,140 shares of the company’s stock, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,364 shares of company stock worth $1,613,094. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays boosted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group boosted their price objective 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. Finally, UBS Group increased their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $302.30.

Automatic Data Processing Trading Down 1.7 %

NASDAQ ADP opened at $281.22 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day moving average price is $304.03 and its two-hundred day moving average price is $297.33. The stock has a market capitalization of $114.59 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.