MGO One Seven LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

MGO One Seven LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 38.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,814 shares of the business services provider's stock after purchasing an additional 2,749 shares during the period. MGO One Seven LLC's holdings in Automatic Data Processing were worth $2,873,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Cyrus J. Lawrence LLC raised its stake 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 purchasing an additional 67 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $41,000. Finally, Kieckhefer Group LLC purchased a new stake in Automatic Data Processing in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,775 shares of company stock valued at $1,447,893. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. UBS Group raised 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. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $302.30.

Automatic Data Processing Stock Down 0.9 %

Automatic Data Processing stock traded down $2.79 during trading on Friday, reaching $291.76. The stock had a trading volume of 1,481,853 shares, compared to its average volume of 1,684,385. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The business has a 50 day moving average price of $299.57 and a 200 day moving average price of $298.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $118.88 billion, a PE ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.11%. Automatic Data Processing's dividend payout ratio is currently 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.