Thrive Wealth Management LLC Raises Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Thrive Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,250 shares of the business services provider’s stock after acquiring an additional 82 shares during the quarter. Thrive Wealth Management LLC’s holdings in Automatic Data Processing were worth $366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in shares of Automatic Data Processing in the second quarter worth about $314,000. XTX Topco Ltd bought a new stake in Automatic Data Processing in the 2nd quarter worth approximately $1,032,000. AE Wealth Management LLC increased its stake in Automatic Data Processing by 28.5% in the 2nd quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock worth $2,258,000 after acquiring an additional 2,096 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Automatic Data Processing by 5.7% in the 2nd quarter. Pacer Advisors Inc. now owns 68,079 shares of the business services provider’s stock worth $16,250,000 after purchasing an additional 3,682 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Automatic Data Processing by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock worth $28,826,000 after purchasing an additional 4,427 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the company’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 transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock valued at $12,604,872. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $296.18 on Monday. The business’s 50 day moving average is $297.90 and its 200-day moving average is $280.29. The stock has a market cap of $120.68 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 65.74%.

Analyst Ratings Changes

A number of research firms recently issued reports on ADP. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $289.91.

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.