North Forty Two & Co. Takes $292,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

North Forty Two & Co. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 996 shares of the business services provider's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock worth $5,098,541,000 after purchasing an additional 424,328 shares in the last quarter. Geode Capital Management LLC raised its position in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock valued at $2,906,257,000 after purchasing an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after acquiring an additional 41,709 shares during the period. Amundi grew its position in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock valued at $910,972,000 after acquiring an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Automatic Data Processing by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider's stock worth $679,675,000 after acquiring an additional 69,042 shares during the period. 80.03% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

ADP has been the subject of several recent research reports. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Jefferies Financial Group increased their price target 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. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group lifted their price objective 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. Finally, Barclays upped their target price 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $296.18.

Automatic Data Processing Trading Down 0.7 %

Shares of ADP traded down $2.19 during trading hours on Friday, hitting $295.32. The stock had a trading volume of 3,951,110 shares, compared to its average volume of 1,459,985. The company's fifty day simple moving average is $303.08 and its 200 day simple moving average is $295.36. The firm has a market cap of $120.33 billion, a P/E ratio of 30.79, 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 company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

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 earnings per share 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company's stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction that occurred 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 sale, the vice president now directly owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last three months. 0.21% of the stock is currently owned by company insiders.

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.