Sequoia Financial Advisors LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sequoia Financial Advisors LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,355 shares of the business services provider's stock after purchasing an additional 1,423 shares during the period. Sequoia Financial Advisors LLC's holdings in Automatic Data Processing were worth $3,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ADP. PFG Advisors boosted its position in shares of Automatic Data Processing by 0.6% during the fourth quarter. PFG Advisors now owns 11,312 shares of the business services provider's stock worth $3,311,000 after acquiring an additional 65 shares during the last quarter. Moors & Cabot Inc. boosted its position in shares of Automatic Data Processing by 3.0% during the fourth quarter. Moors & Cabot Inc. now owns 5,959 shares of the business services provider's stock worth $1,744,000 after acquiring an additional 176 shares during the last quarter. Prosperity Financial Group Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth $207,000. Natural Investments LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth $1,458,000. Finally, Wealthfront Advisers LLC boosted its position in shares of Automatic Data Processing by 274.0% during the fourth quarter. Wealthfront Advisers LLC now owns 139,605 shares of the business services provider's stock worth $40,867,000 after acquiring an additional 102,276 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last 90 days. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $290.55 on Friday. The firm has a 50-day moving average price of $302.32 and a 200-day moving average price of $294.30. The firm has a market capitalization of $118.39 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick 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 $322.84.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio is presently 64.23%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ADP shares. Royal Bank of Canada restated 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. UBS Group upped 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 report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Jefferies Financial Group increased 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 report on Thursday, January 30th. Finally, Barclays increased 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 report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $296.18.

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.

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