Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Fmr LLC

FMR LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,268,211 shares of the business services provider's stock after acquiring an additional 7,082 shares during the period. FMR LLC owned 0.31% of Automatic Data Processing worth $371,243,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ADP. Norges Bank bought a new position in shares of Automatic Data Processing during the fourth quarter worth $455,993,000. Raymond James Financial Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth $342,942,000. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Amundi boosted its holdings in shares of Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock valued at $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in shares of Automatic Data Processing by 1,029.7% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 420,257 shares of the business services provider's stock valued at $132,429,000 after purchasing an additional 383,057 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

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Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction that occurred on 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 directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the 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 completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,775 shares of company stock valued at $1,447,893. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 1.0 %

ADP stock traded down $3.11 during midday trading on Tuesday, hitting $298.45. 847,906 shares of the company's stock were exchanged, compared to its average volume of 1,670,357. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The business has a 50-day simple moving average of $302.25 and a two-hundred day simple moving average of $297.93. The stock has a market capitalization of $121.61 billion, a PE ratio of 31.12, a P/E/G ratio of 3.62 and a beta of 0.74. 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 (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is presently 64.23%.

Analyst Ratings Changes

Several equities analysts have commented on ADP shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. 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 report on Wednesday, February 5th. One analyst has 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, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $302.30.

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.