Alliance Wealth Advisors LLC UT Has $3.02 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alliance Wealth Advisors LLC UT raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,966 shares of the business services provider’s stock after buying an additional 158 shares during the quarter. Automatic Data Processing comprises 1.0% of Alliance Wealth Advisors LLC UT’s portfolio, making the stock its 25th biggest position. Alliance Wealth Advisors LLC UT’s holdings in Automatic Data Processing were worth $3,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $392,000. Americana Partners LLC grew its position in shares of Automatic Data Processing by 3.1% in the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares during the period. Everence Capital Management Inc. grew its position in shares of Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC grew its position in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADP shares. Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, 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 on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock valued at $3,741,859 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP traded down $3.27 during trading hours on Friday, reaching $243.07. The company’s stock had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The company’s 50-day moving average is $246.70 and its 200-day moving average is $239.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $99.85 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

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

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.