Burney Co. Has $3.40 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Burney Co. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 25.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,605 shares of the business services provider's stock after purchasing an additional 2,377 shares during the period. Burney Co.'s holdings in Automatic Data Processing were worth $3,397,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ADP. State Street Corp lifted its holdings in shares of Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock worth $5,098,541,000 after purchasing an additional 424,328 shares during the last quarter. Geode Capital Management LLC increased its position in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock worth $2,906,257,000 after buying an additional 286,080 shares during the period. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock worth $964,989,000 after buying an additional 435,093 shares during the period. Legal & General Group Plc lifted its stake in Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider's stock valued at $846,912,000 after buying an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after acquiring an additional 41,709 shares during the period. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of analyst reports. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Saturday, January 11th. Finally, Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock traded up $2.86 during trading hours on Thursday, hitting $296.23. 1,667,520 shares of the stock traded hands, compared to its average volume of 1,641,862. The stock has a 50-day simple moving average of $298.24 and a 200 day simple moving average of $279.45. The company has a market cap of $120.70 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm posted $2.08 EPS. The business's revenue for the quarter was up 7.1% on a year-over-year basis. 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 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.74%.

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.