Dogwood Wealth Management LLC Has $717,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Dogwood Wealth Management LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2,105.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,448 shares of the business services provider’s stock after purchasing an additional 2,337 shares during the quarter. Dogwood Wealth Management LLC’s holdings in Automatic Data Processing were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Exchange Traded Concepts LLC raised its position in shares of Automatic Data Processing by 4.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,801 shares of the business services provider’s stock worth $1,405,000 after acquiring an additional 183 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Automatic Data Processing by 11.6% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 2,338 shares of the business services provider’s stock worth $684,000 after purchasing an additional 243 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in Automatic Data Processing by 1.7% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,693 shares of the business services provider’s stock worth $788,000 after purchasing an additional 45 shares in the last quarter. Finally, Marshall Financial Group LLC increased its holdings in Automatic Data Processing by 8.2% in the fourth quarter. Marshall Financial Group LLC now owns 805 shares of the business services provider’s stock worth $236,000 after purchasing an additional 61 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Wall Street Zen downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $305.64.

Automatic Data Processing Trading Down 0.2%

Shares of Automatic Data Processing stock opened at $321.09 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $323.66. The stock has a 50 day moving average price of $301.58 and a two-hundred day moving average price of $301.17. The stock has a market capitalization of $130.34 billion, a PE ratio of 33.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.88 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.92%. Automatic Data Processing’s payout ratio is 63.05%.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,451 shares of company stock valued at $743,024 over the last 90 days. Insiders own 0.21% of the company’s stock.

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.