Legacy Financial Advisors Inc. Has $1.11 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Legacy Financial Advisors Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,802 shares of the business services provider’s stock after buying an additional 77 shares during the period. Legacy Financial Advisors Inc.’s holdings in Automatic Data Processing were worth $1,113,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. HHM Wealth Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Kieckhefer Group LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group increased their price objective 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. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed 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, Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One equities 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $302.30.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $294.69 on Thursday. The firm has a market capitalization of $120.07 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a fifty day moving average of $302.79 and a 200 day moving average of $297.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was 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 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 SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is currently owned by corporate insiders.

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.