Rhumbline Advisers Has $246.89 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Rhumbline Advisers lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 843,398 shares of the business services provider's stock after selling 8,350 shares during the period. Rhumbline Advisers owned about 0.21% of Automatic Data Processing worth $246,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Accredited Investors Inc. grew its position in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock worth $640,712,000 after acquiring an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock valued at $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing in the third quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock valued at $172,497,000 after purchasing an additional 479,145 shares during the period. Finally, State Street Corp raised its stake in Automatic Data Processing by 2.4% during 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 acquiring an additional 424,328 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADP. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 22nd. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. Finally, Jefferies Financial Group raised 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 note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $293.55.

Automatic Data Processing Stock Performance

Shares of ADP traded up $3.27 during trading hours on Wednesday, hitting $313.22. The company had a trading volume of 1,407,682 shares, compared to its average volume of 1,615,934. The firm has a market cap of $127.62 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.59 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72. The business has a fifty day moving average of $297.93 and a 200-day moving average of $289.42.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 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.