FNY Investment Advisers LLC Acquires New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

FNY Investment Advisers LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,200 shares of the business services provider's stock, valued at approximately $2,693,000. Automatic Data Processing makes up approximately 1.4% of FNY Investment Advisers LLC's holdings, making the stock its 16th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of ADP. Tower Wealth Partners Inc. raised its position in shares of Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock worth $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock worth $482,000 after acquiring an additional 36 shares during the last quarter. Petredis Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock valued at $2,902,000 after acquiring an additional 37 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock valued at $1,360,000 after acquiring an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC boosted its stake in shares of Automatic Data Processing by 4.4% during the third quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock valued at $255,000 after acquiring an additional 39 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.5 %

Shares of NASDAQ:ADP traded up $1.49 during mid-day trading on Tuesday, hitting $291.69. 2,320,838 shares of the company traded hands, compared to its average volume of 1,623,244. The firm's 50 day simple moving average is $298.48 and its 200 day simple moving average is $279.35. The firm has a market cap of $118.85 billion, a P/E ratio of 31.13, a PEG ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a $1.54 dividend. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. Automatic Data Processing's dividend payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ADP. UBS Group boosted their target price 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. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Finally, Citigroup boosted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value 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 $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. 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 ninety days. Insiders own 0.21% of the company's stock.

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.