Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,701 shares of the business services provider's stock after purchasing an additional 4,965 shares during the period. Daiwa Securities Group Inc.'s holdings in Automatic Data Processing were worth $25,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. AMG National Trust Bank raised its holdings in shares of Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after acquiring an additional 33 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock valued at $482,000 after purchasing an additional 36 shares in the last quarter. Aspiriant LLC lifted its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after purchasing an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after purchasing an additional 36 shares during the period. Finally, Riversedge Advisors LLC boosted its stake in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

ADP has been the subject of a number of recent research reports. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $296.18.

Automatic Data Processing Stock Down 1.2 %

NASDAQ ADP traded down $3.63 during trading on Thursday, hitting $290.55. The company's stock had a trading volume of 2,061,672 shares, compared to its average volume of 1,506,012. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The company has a market cap of $118.39 billion, a PE ratio of 30.30, a P/E/G ratio of 3.62 and a beta of 0.76. 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 business's 50 day simple moving average is $302.30 and its 200-day simple moving average is $294.33.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, 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 have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last ninety days. Company insiders own 0.21% of the company's stock.

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.