1,673 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Wetzel Investment Advisors Inc.

Wetzel Investment Advisors Inc. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,673 shares of the business services provider’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Morgan Stanley grew its position in shares of Automatic Data Processing by 7.8% during the 4th quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock valued at $2,629,852,000 after buying an additional 794,328 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Automatic Data Processing by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock valued at $2,085,849,000 after purchasing an additional 198,008 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after purchasing an additional 6,763,553 shares during the period. Northern Trust Corp boosted its stake in Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after purchasing an additional 288,234 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Automatic Data Processing by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock valued at $1,261,327,000 after purchasing an additional 77,187 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.5 %

Shares of ADP stock traded up $1.32 during trading hours on Friday, reaching $243.31. 1,638,700 shares of the stock traded hands, compared to its average volume of 1,816,781. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The business has a fifty day moving average price of $247.22 and a 200 day moving average price of $239.23. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $99.95 billion, a PE ratio of 28.32, a PEG ratio of 2.28 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Analyst Ratings Changes

A number of research firms have issued reports on ADP. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI boosted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by company insiders.

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.