Apollon Wealth Management LLC Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Apollon Wealth Management LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 65.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,085 shares of the business services provider’s stock after buying an additional 5,955 shares during the quarter. Apollon Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,514,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ADP. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $35,000. Raleigh Capital Management Inc. raised its position in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the period. Evolution Advisers Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth $41,000. Finally, Bfsg LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADP. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. JPMorgan Chase & Co. lowered their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ:ADP traded up $0.85 during trading hours on Monday, reaching $242.74. The stock had a trading volume of 1,108,750 shares, compared to its average volume of 1,788,093. The stock has a market capitalization of $99.35 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 2.30 and a beta of 0.78. The firm’s 50 day moving average is $245.41 and its 200-day moving average is $238.92. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.52 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors 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 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 3,829 shares of company stock worth $965,274 over the last three months. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Company 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.