Rockefeller Capital Management L.P. Buys 9,180 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Rockefeller Capital Management L.P. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 261,622 shares of the business services provider's stock after buying an additional 9,180 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.06% of Automatic Data Processing worth $76,582,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADP. Virtu Financial LLC boosted its stake in Automatic Data Processing by 202.7% during the third quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock worth $1,348,000 after acquiring an additional 3,261 shares in the last quarter. Tudor Financial Inc. bought a new position in shares of Automatic Data Processing during the 3rd quarter worth about $310,000. Anchor Investment Management LLC grew its stake in shares of Automatic Data Processing by 7.0% in the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock valued at $4,257,000 after buying an additional 1,001 shares during the period. Pine Valley Investments Ltd Liability Co increased its position in Automatic Data Processing by 3.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock valued at $2,753,000 after buying an additional 337 shares in the last quarter. Finally, World Investment Advisors LLC raised its stake in Automatic Data Processing by 22.6% during the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock worth $2,066,000 after buying an additional 1,378 shares during the period. Institutional investors own 80.03% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

ADP has been the subject of several recent research reports. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price objective 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. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, UBS Group boosted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $302.30.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were 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 of the company's stock, valued at $3,686,852.74. This represents a 11.05 % 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 Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock worth $1,447,893 over the last three months. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded down $3.50 during midday trading on Tuesday, reaching $298.06. The company's stock had a trading volume of 1,762,327 shares, compared to its average volume of 1,674,878. 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 stock has a market capitalization of $121.45 billion, a P/E ratio of 31.08, a PEG ratio of 3.62 and a beta of 0.74. The firm has a 50 day moving average price of $302.25 and a 200-day moving average price of $297.93. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-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 return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is 64.23%.

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.