Assetmark Inc. Buys 338 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Assetmark Inc. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% in the fourth quarter, Holdings Channel reports. The fund owned 3,775 shares of the business services provider’s stock after acquiring an additional 338 shares during the quarter. Assetmark Inc.’s holdings in Automatic Data Processing were worth $1,105,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ADP. Tyler Stone Wealth Management raised its stake in shares of Automatic Data Processing by 104.5% during the third quarter. Tyler Stone Wealth Management now owns 994 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 508 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Automatic Data Processing by 11.6% in the third quarter. Los Angeles Capital Management LLC now owns 36,470 shares of the business services provider’s stock worth $10,092,000 after acquiring an additional 3,795 shares during the period. Ashton Thomas Securities LLC bought a new stake in Automatic Data Processing in the third quarter valued at approximately $221,000. Wolverine Asset Management LLC bought a new stake in Automatic Data Processing in the third quarter valued at approximately $1,245,000. Finally, Addison Advisors LLC increased its position in Automatic Data Processing by 12.2% during the 3rd quarter. Addison Advisors LLC now owns 552 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ADP shares. StockNews.com lowered 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 objective 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. UBS Group boosted their price objective on 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 raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reissued 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. Two equities research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Trading Down 3.5 %

NASDAQ ADP opened at $292.44 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The business has a 50 day moving average price of $302.27 and a 200-day moving average price of $294.33. The company has a market cap of $119.16 billion, a price-to-earnings ratio of 30.49, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. Automatic Data Processing’s dividend payout ratio is presently 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.