Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Syon Capital LLC

Syon Capital LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,515 shares of the business services provider’s stock after purchasing an additional 747 shares during the period. Syon Capital LLC’s holdings in Automatic Data Processing were worth $1,052,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC lifted its holdings in Automatic Data Processing by 10,832.1% in the third quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock valued at $736,000 after acquiring an additional 3,033 shares during the period. Strategic Blueprint LLC increased its position in Automatic Data Processing by 18.0% during the 3rd quarter. Strategic Blueprint LLC now owns 3,835 shares of the business services provider’s stock worth $923,000 after purchasing an additional 584 shares in the last quarter. Caprock Group LLC increased its position in Automatic Data Processing by 1.0% during the 3rd quarter. Caprock Group LLC now owns 6,779 shares of the business services provider’s stock worth $1,639,000 after purchasing an additional 68 shares in the last quarter. Capital Asset Advisory Services LLC increased its position in Automatic Data Processing by 3.6% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,038 shares of the business services provider’s stock worth $508,000 after purchasing an additional 71 shares in the last quarter. Finally, CX Institutional increased its position in Automatic Data Processing by 283.6% during the 3rd quarter. CX Institutional now owns 17,892 shares of the business services provider’s stock worth $4,304,000 after purchasing an additional 13,228 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

ADP traded down $0.27 during trading on Thursday, reaching $246.34. 1,175,638 shares of the company were exchanged, compared to its average volume of 1,796,220. The stock has a market cap of $101.19 billion, a P/E ratio of 28.71, a PEG ratio of 2.32 and a beta of 0.78. The firm has a 50 day moving average of $247.01 and a 200 day moving average of $239.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the business earned $1.96 EPS. The firm’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $254.58.

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.