Amundi Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Amundi raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,120,039 shares of the business services provider's stock after buying an additional 449,431 shares during the quarter. Amundi owned about 0.77% of Automatic Data Processing worth $910,972,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the 4th quarter valued at about $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. UBS Group increased their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Finally, StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $296.18.

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Automatic Data Processing Stock Up 0.6 %

NASDAQ:ADP traded up $1.74 during trading hours on Wednesday, hitting $294.18. The company's stock had a trading volume of 1,959,645 shares, compared to its average volume of 1,505,899. The stock has a market capitalization of $119.87 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $302.27 and a 200-day moving average of $294.33. 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 released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Insider Activity

In related news, VP David Foskett sold 1,067 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,951 shares of company stock worth $1,762,074. 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.