Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,603 shares of the business services provider's stock after purchasing an additional 1,090 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Automatic Data Processing were worth $8,959,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $209,000. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing during the 4th quarter worth $708,000. Nomura Asset Management Co. Ltd. increased its position in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider's stock worth $77,750,000 after buying an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new stake in Automatic Data Processing in the third quarter valued at $470,000. Finally, Dash Acquisitions Inc. boosted its holdings in shares of Automatic Data Processing by 5.6% during the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider's stock valued at $15,069,000 after acquiring an additional 2,781 shares during the period. Institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ADP shares. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.55.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on 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 directly owns 13,706 shares in the company, 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. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock traded down $1.21 during trading hours on Friday, hitting $310.76. 1,600,341 shares of the stock traded hands, compared to its average volume of 1,606,313. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $298.44 and a 200 day simple moving average of $289.74. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $313.72. The company has a market cap of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.65 and a beta of 0.79.

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 earnings per share (EPS) for the quarter, topping 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%. 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 of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

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.