GAM Holding AG Buys New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

GAM Holding AG bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,203 shares of the business services provider's stock, valued at approximately $2,694,000.

A number of other hedge funds have also modified their holdings of the stock. Tower Wealth Partners Inc. lifted its holdings in 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 buying an additional 35 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock worth $482,000 after buying an additional 36 shares in the last quarter. Aspiriant LLC lifted its holdings in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after buying an additional 36 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after buying an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC lifted its holdings in Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after buying an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP David Foskett sold 1,067 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company's stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction 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 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. In the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Down 0.4 %

Shares of ADP traded down $1.21 during trading hours on Friday, reaching $310.76. The stock had a trading volume of 1,600,341 shares, compared to its average volume of 1,606,313. 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, Inc. has a 52 week low of $231.27 and a 52 week high of $313.72. The firm has a 50-day moving average of $298.72 and a 200 day moving average of $290.11. 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 released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's payout ratio is presently 64.23%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ADP shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $293.55.

Automatic Data Processing Company 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.