Greenland Capital Management LP Purchases 41,711 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Greenland Capital Management LP lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 184.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,335 shares of the business services provider's stock after acquiring an additional 41,711 shares during the quarter. Automatic Data Processing makes up approximately 3.0% of Greenland Capital Management LP's holdings, making the stock its biggest holding. Greenland Capital Management LP's holdings in Automatic Data Processing were worth $18,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC raised 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 purchasing an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after buying an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing during the 4th quarter valued at $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Institutional investors own 80.03% of the company's stock.

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Automatic Data Processing Stock Performance

NASDAQ ADP traded up $7.33 during trading hours on Friday, reaching $299.54. The stock had a trading volume of 2,187,994 shares, compared to its average volume of 1,672,843. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a fifty day moving average of $302.38 and a 200 day moving average of $297.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $122.05 billion, a P/E ratio of 31.23, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74.

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 earnings per share 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%. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.06%. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ADP shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $302.30.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated 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 directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is owned by company insiders.

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.