Mcdaniel Terry & Co. Has $57.11 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mcdaniel Terry & Co. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 195,076 shares of the business services provider’s stock after buying an additional 10,158 shares during the period. Automatic Data Processing makes up 4.7% of Mcdaniel Terry & Co.’s holdings, making the stock its 4th biggest holding. Mcdaniel Terry & Co.’s holdings in Automatic Data Processing were worth $57,105,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Wealth Alliance raised its stake in Automatic Data Processing by 1.8% during the fourth quarter. Wealth Alliance now owns 2,974 shares of the business services provider’s stock worth $870,000 after buying an additional 54 shares during the last quarter. LMG Wealth Partners LLC increased its stake in Automatic Data Processing by 0.5% in the fourth quarter. LMG Wealth Partners LLC now owns 18,586 shares of the business services provider’s stock valued at $5,441,000 after purchasing an additional 84 shares in the last quarter. DSM Capital Partners LLC increased its stake in Automatic Data Processing by 8.4% in the fourth quarter. DSM Capital Partners LLC now owns 3,952 shares of the business services provider’s stock valued at $1,157,000 after purchasing an additional 305 shares in the last quarter. Convergence Investment Partners LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at $201,000. Finally, Atlas Legacy Advisors LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at $701,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.1 %

Automatic Data Processing stock opened at $313.22 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72. The stock has a market cap of $127.62 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 3.59 and a beta of 0.79. The firm’s 50-day simple moving average is $298.18 and its 200 day simple moving average is $289.59. 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 released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate 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 predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $293.55.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by 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.