Headlands Technologies LLC Invests $3.33 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Headlands Technologies LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,383 shares of the business services provider's stock, valued at approximately $3,332,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC boosted its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after buying an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the fourth quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Foskett sold 1,067 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company's stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,368 shares of company stock valued at $1,903,541. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

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

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $19.26 during mid-day trading on Friday, hitting $286.13. 3,769,208 shares of the company were exchanged, compared to its average volume of 1,632,999. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The business's 50 day simple moving average is $304.41 and its two-hundred day simple moving average is $297.15. The company has a market capitalization of $116.59 billion, a P/E ratio of 29.84, a PEG ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data 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 return on equity of 80.86% and a net margin of 19.76%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Friday, March 14th. Automatic Data Processing's payout ratio is 64.23%.

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.