Russell Investments Group Ltd. Purchases 11,919 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Russell Investments Group Ltd. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 490,671 shares of the business services provider's stock after purchasing an additional 11,919 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Automatic Data Processing worth $143,644,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AMG National Trust Bank raised its position in shares of Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the last quarter. Aspiriant LLC raised its holdings in shares of Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after acquiring an additional 36 shares during the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock valued at $1,466,000 after acquiring an additional 36 shares during the last quarter. Riversedge Advisors LLC increased its position in Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after purchasing an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its position in Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock worth $539,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

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Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $3.01 during trading on Thursday, hitting $291.69. The company had a trading volume of 1,533,806 shares, compared to its average volume of 1,658,567. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $118.85 billion, a P/E ratio of 30.22, a PEG ratio of 3.62 and a beta of 0.74. The business's 50-day moving average is $302.79 and its 200 day moving average is $297.29. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 64.23%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. 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 report on Tuesday, March 4th. 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. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $302.30.

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.