Coign Capital Advisors LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Coign Capital Advisors LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 882 shares of the business services provider's stock, valued at approximately $258,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. lifted its stake in Automatic Data Processing by 13.1% during the third quarter. Coldstream Capital Management Inc. now owns 7,299 shares of the business services provider's stock worth $2,043,000 after purchasing an additional 843 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Automatic Data Processing by 1.9% during the 3rd quarter. Toronto Dominion Bank now owns 214,797 shares of the business services provider's stock valued at $59,441,000 after acquiring an additional 4,061 shares during the period. Virtu Financial LLC boosted its holdings in Automatic Data Processing by 202.7% during the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after acquiring an additional 3,261 shares during the period. Tudor Financial Inc. purchased a new stake in Automatic Data Processing during the third quarter worth about $310,000. Finally, Anchor Investment Management LLC lifted its position in shares of Automatic Data Processing by 7.0% during the third quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock worth $4,257,000 after purchasing an additional 1,001 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Automatic Data Processing Stock Performance

Shares of ADP traded down $3.06 during mid-day trading on Wednesday, reaching $295.00. 461,446 shares of the company's stock were exchanged, compared to its average volume of 1,670,209. The stock has a market capitalization of $120.20 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The business's fifty day simple moving average is $302.03 and its 200-day simple moving average is $297.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.09%. Automatic Data Processing's payout ratio is currently 64.23%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Finally, Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. One equities research analyst has 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 stock has a consensus rating of "Hold" and an average target price of $302.30.

Insider Activity

In related news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock valued at $1,447,893 over the last quarter. Corporate 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.