Impact Capital Partners LLC Purchases New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Impact Capital Partners LLC acquired 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 fund acquired 7,574 shares of the business services provider's stock, valued at approximately $2,217,000.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC increased its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $41,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays increased their price target 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. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Royal Bank of Canada reissued 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. Finally, Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and an average price target of $296.18.

Remove Ads

Automatic Data Processing Stock Performance

Shares of ADP opened at $294.18 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $119.87 billion, a PE ratio of 30.68, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a fifty day moving average price of $302.30 and a 200-day moving average price of $294.33.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.09%. Automatic Data Processing's dividend payout ratio is currently 64.23%.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction 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 directly owns 13,706 shares of the company's stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.