Certior Financial Group LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,310 shares of the business services provider's stock, valued at approximately $384,000.
A number of other large investors also recently bought and sold shares of ADP. Kovitz Investment Group Partners LLC increased its holdings in Automatic Data Processing by 33.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,558 shares of the business services provider's stock worth $10,117,000 after buying an additional 9,248 shares in the last quarter. EP Wealth Advisors LLC raised its stake in Automatic Data Processing by 3.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 20,134 shares of the business services provider's stock worth $5,572,000 after acquiring an additional 726 shares during the period. XTX Topco Ltd lifted its stake in shares of Automatic Data Processing by 24.5% during the 3rd quarter. XTX Topco Ltd now owns 5,383 shares of the business services provider's stock valued at $1,490,000 after buying an additional 1,058 shares in the last quarter. World Investment Advisors LLC grew its position in shares of Automatic Data Processing by 1,277.2% during the third quarter. World Investment Advisors LLC now owns 83,843 shares of the business services provider's stock worth $23,202,000 after purchasing an additional 77,755 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Automatic Data Processing by 1.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,606 shares of the business services provider's stock valued at $3,765,000 after buying an additional 149 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP Jonathan S. Lehberger sold 2,324 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,364 shares of company stock valued at $1,613,094. Company insiders own 0.21% of the company's stock.
Automatic Data Processing Stock Up 2.5 %
Shares of Automatic Data Processing stock traded up $7.33 during trading on Friday, reaching $299.54. The company's stock had a trading volume of 2,187,994 shares, compared to its average volume of 1,671,064. The company has a 50-day simple moving average of $302.38 and a two-hundred day simple moving average of $297.56. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The company has a market cap of $122.05 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.06%. Automatic Data Processing's payout ratio is presently 64.23%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ADP. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $302.30.
Read Our Latest Stock Report on ADP
About Automatic Data Processing
(
Free Report)
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.
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