Avantax Advisory Services Inc. Has $9.42 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Avantax Advisory Services Inc. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 32,175 shares of the business services provider’s stock after buying an additional 2,203 shares during the period. Avantax Advisory Services Inc.’s holdings in Automatic Data Processing were worth $9,419,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ADP. Raymond James Financial Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $342,942,000. Proficio Capital Partners LLC lifted its position in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Amundi raised its stake in shares of Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after buying an additional 449,431 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of 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 reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group boosted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Stock Down 1.2 %

Shares of NASDAQ:ADP opened at $290.55 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $118.39 billion, a PE ratio of 30.30, a PEG ratio of 3.62 and a beta of 0.76. The company has a 50 day moving average price of $302.32 and a two-hundred day moving average price of $294.30.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

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.