Brooklyn FI LLC Takes $757,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Brooklyn FI LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,560 shares of the business services provider's stock, valued at approximately $757,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the third quarter worth approximately $26,000. Dunhill Financial LLC grew its holdings in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company's stock, valued at $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company's stock.

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Automatic Data Processing Trading Up 1.2 %

NASDAQ:ADP traded up $3.57 during trading hours on Monday, hitting $298.89. The company had a trading volume of 1,709,089 shares, compared to its average volume of 1,460,980. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50-day moving average price of $303.08 and a 200 day moving average price of $295.50. The company has a market capitalization of $121.78 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. 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, beating 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, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group lifted their price target 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. Barclays boosted 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. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $296.18.

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.