Cibc World Markets Corp Buys 9,019 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cibc World Markets Corp raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,361 shares of the business services provider's stock after acquiring an additional 9,019 shares during the quarter. Cibc World Markets Corp's holdings in Automatic Data Processing were worth $21,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC boosted its holdings in shares of Automatic Data Processing by 346.5% in the 3rd 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 during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Finally, HHM Wealth Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $41,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $2.19 during trading on Friday, reaching $295.32. The company's stock had a trading volume of 3,951,110 shares, compared to its average volume of 1,462,870. The firm has a 50 day moving average price of $302.91 and a 200 day moving average price of $295.08. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The firm has a market capitalization of $120.33 billion, a price-to-earnings ratio of 30.79, 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.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, UBS Group boosted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $296.18.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company's stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing 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.