Congress Wealth Management LLC DE Has $3.88 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Congress Wealth Management LLC DE increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 54.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,235 shares of the business services provider’s stock after purchasing an additional 4,654 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Automatic Data Processing were worth $3,875,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Crowley Wealth Management Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $88,000. Vanguard Group Inc. grew its stake in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after acquiring an additional 277,324 shares in the last quarter. Napatree Capital LLC raised its holdings in shares of Automatic Data Processing by 2.7% in the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock valued at $936,000 after purchasing an additional 84 shares during the last quarter. Drexel Morgan & Co. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $205,000. Finally, Stevens Capital Management LP acquired a new position in Automatic Data Processing during the fourth quarter worth $393,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on ADP shares. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Jefferies Financial Group lifted their target price 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Trading Up 0.2 %

Shares of Automatic Data Processing stock opened at $299.38 on Wednesday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a market capitalization of $121.98 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 3.62 and a beta of 0.76. The business has a fifty day simple moving average of $303.41 and a two-hundred day simple moving average of $295.91. 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 posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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%. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing 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 owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,951 shares of company stock worth $1,762,074. Company insiders own 0.21% of the company’s stock.

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.