Polymer Capital Management US LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,424 shares of the business services provider's stock, valued at approximately $710,000.
A number of other hedge funds have also recently modified their holdings of the company. FMR LLC increased its holdings in shares of Automatic Data Processing by 0.6% during the 4th quarter. FMR LLC now owns 1,268,211 shares of the business services provider's stock worth $371,243,000 after buying an additional 7,082 shares during the last quarter. Quadrant Capital Group LLC raised its position in Automatic Data Processing by 0.8% in the fourth quarter. Quadrant Capital Group LLC now owns 7,243 shares of the business services provider's stock valued at $2,120,000 after purchasing an additional 54 shares during the period. Ilmarinen Mutual Pension Insurance Co lifted its stake in shares of Automatic Data Processing by 149.1% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 66,000 shares of the business services provider's stock valued at $19,320,000 after purchasing an additional 39,500 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Automatic Data Processing by 2.5% during the 4th quarter. Russell Investments Group Ltd. now owns 490,671 shares of the business services provider's stock worth $143,644,000 after purchasing an additional 11,919 shares during the period. Finally, Wedbush Securities Inc. increased its position in shares of Automatic Data Processing by 10.1% during the 4th quarter. Wedbush Securities Inc. now owns 7,275 shares of the business services provider's stock worth $2,130,000 after purchasing an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.
Automatic Data Processing Stock Performance
Shares of ADP traded up $7.33 during trading hours on Friday, reaching $299.54. 2,187,994 shares of the company's stock traded hands, compared to its average volume of 1,671,064. The business's fifty day simple moving average is $302.38 and its two-hundred day simple moving average is $297.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $122.05 billion, a price-to-earnings ratio of 31.23, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.
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 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. 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. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group increased their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Barclays increased their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. One research 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. According to MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and an average price target of $302.30.
Get Our Latest Analysis on ADP
Insider Activity
In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,364 shares of company stock valued at $1,613,094. 0.21% of the stock is owned by insiders.
About Automatic Data Processing
(
Free Report)
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.
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