Spring Capital Management LLC Has $6.19 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Spring Capital Management LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,146 shares of the business services provider's stock after acquiring an additional 872 shares during the quarter. Automatic Data Processing makes up 3.7% of Spring Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Spring Capital Management LLC's holdings in Automatic Data Processing were worth $6,190,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Automatic Data Processing in the 2nd quarter worth about $27,044,000. Edgestream Partners L.P. increased its position in Automatic Data Processing by 237.6% during the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider's stock worth $1,606,000 after buying an additional 4,735 shares during the last quarter. Waterloo Capital L.P. raised its stake in shares of Automatic Data Processing by 10.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider's stock valued at $252,000 after acquiring an additional 98 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Automatic Data Processing in the 2nd quarter worth approximately $314,000. Finally, XTX Topco Ltd bought a new stake in Automatic Data Processing during the second quarter worth approximately $1,032,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADP. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. Mizuho increased their target price 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 raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. StockNews.com upgraded Automatic Data Processing from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $289.91.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 over the last three months. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

ADP stock traded down $0.05 during midday trading on Friday, reaching $296.18. 2,405,360 shares of the company's stock traded hands, compared to its average volume of 1,454,451. The company has a 50-day simple moving average of $297.90 and a two-hundred day simple moving average of $280.29. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. The company's revenue was up 7.1% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio is 65.74%.

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.