Proficio Capital Partners LLC Purchases 1,117 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Proficio Capital Partners LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 42.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,725 shares of the business services provider's stock after buying an additional 1,117 shares during the quarter. Proficio Capital Partners LLC's holdings in Automatic Data Processing were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Littlejohn Financial Services Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $708,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider's stock worth $77,750,000 after buying an additional 15,340 shares during the period. DRW Securities LLC purchased a new stake in shares of Automatic Data Processing during the third quarter valued at $951,000. Harvest Fund Management Co. Ltd increased its holdings in Automatic Data Processing by 51.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 18,925 shares of the business services provider's stock worth $5,236,000 after buying an additional 6,399 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in shares of Automatic Data Processing by 12.0% in the third quarter. Daiwa Securities Group Inc. now owns 82,736 shares of the business services provider's stock worth $22,896,000 after acquiring an additional 8,846 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

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Automatic Data Processing Trading Up 1.2 %

Automatic Data Processing stock traded up $3.57 during midday trading on Monday, reaching $298.89. The stock had a trading volume of 1,709,089 shares, compared to its average volume of 1,810,554. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The firm has a market cap of $121.78 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 3.62 and a beta of 0.76. 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's fifty day simple moving average is $303.08 and its two-hundred day simple moving average is $295.50.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th 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 of this dividend is Friday, March 14th. Automatic Data Processing's payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADP. 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. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $296.18.

Automatic Data Processing Company 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.