Main Street Financial Solutions LLC Purchases 159 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Main Street Financial Solutions LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,549 shares of the business services provider’s stock after acquiring an additional 159 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Automatic Data Processing were worth $1,039,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. AMG National Trust Bank raised its holdings in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after buying an additional 33 shares during the period. Aspiriant LLC increased its stake in Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its position in shares of Automatic Data Processing by 0.7% during the fourth 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 in the last quarter. Riversedge Advisors LLC boosted its stake in shares of Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 37 shares during the period. Finally, Gilbert & Cook Inc. increased its stake in Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock worth $539,000 after buying an additional 37 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were 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 approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock valued at $1,447,893 over the last quarter. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, UBS Group boosted 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 equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $302.30.

Automatic Data Processing Stock Performance

Shares of ADP opened at $294.14 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $301.80 and a two-hundred day moving average of $297.90. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The stock has a market cap of $119.85 billion, a P/E ratio of 30.67, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results 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, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 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.