Sei Investments Co. Raises Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sei Investments Co. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 308.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 379,692 shares of the business services provider's stock after acquiring an additional 286,813 shares during the quarter. Sei Investments Co. owned 0.09% of Automatic Data Processing worth $111,151,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ADP. American Century Companies Inc. lifted its position in shares of Automatic Data Processing by 13.0% during the 4th quarter. American Century Companies Inc. now owns 472,131 shares of the business services provider's stock valued at $138,207,000 after buying an additional 54,263 shares in the last quarter. Plancorp LLC lifted its holdings in Automatic Data Processing by 5.0% during the fourth quarter. Plancorp LLC now owns 3,464 shares of the business services provider's stock valued at $1,014,000 after purchasing an additional 164 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares during the period. Mizuho Securities USA LLC grew its position in shares of Automatic Data Processing by 46.0% in the fourth quarter. Mizuho Securities USA LLC now owns 38,618 shares of the business services provider's stock valued at $11,305,000 after purchasing an additional 12,175 shares during the period. Finally, Millstone Evans Group LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $1,032,000. Institutional investors and hedge funds own 80.03% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADP shares. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. 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 report on Thursday, January 30th. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Barclays increased their target price 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, Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. One equities 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $302.30.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 721 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares of the company's stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Up 1.0 %

Shares of NASDAQ ADP traded up $3.02 during midday trading on Thursday, reaching $305.43. 1,373,585 shares of the stock were exchanged, compared to its average volume of 1,463,973. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The stock has a market capitalization of $124.45 billion, a P/E ratio of 31.85, a PEG ratio of 3.62 and a beta of 0.76. The company has a 50 day simple moving average of $303.59 and a 200 day simple moving average of $295.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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 return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

About Automatic Data Processing

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.