American Century Companies Inc. Has $138.21 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

American Century Companies Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 472,131 shares of the business services provider's stock after purchasing an additional 54,263 shares during the period. American Century Companies Inc. owned about 0.12% of Automatic Data Processing worth $138,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Meridian Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the third quarter valued at $754,000. Cerity Partners LLC boosted its stake in Automatic Data Processing by 11.4% during the 3rd quarter. Cerity Partners LLC now owns 184,177 shares of the business services provider's stock valued at $50,976,000 after purchasing an additional 18,793 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Automatic Data Processing by 3.6% in the third quarter. Kingsview Wealth Management LLC now owns 28,865 shares of the business services provider's stock valued at $7,988,000 after purchasing an additional 1,008 shares during the period. Lane & Associates LLC raised its holdings in shares of Automatic Data Processing by 50.2% during the third quarter. Lane & Associates LLC now owns 2,815 shares of the business services provider's stock valued at $779,000 after buying an additional 941 shares during the last quarter. Finally, WESPAC Advisors LLC bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $201,000. 80.03% of the stock is owned by institutional investors and hedge funds.

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Insider Activity at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the company's 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 owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of the business'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 transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Up 1.0 %

NASDAQ ADP traded up $3.02 on Thursday, reaching $305.43. The stock had a trading volume of 1,373,585 shares, compared to its average volume of 1,463,973. The company has a market capitalization of $124.45 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 3.62 and a beta of 0.76. The business has a 50 day moving average price of $303.59 and a 200 day moving average price of $295.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio is currently 64.23%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. 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. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Finally, StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $302.30.

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.