Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Investment House LLC

Investment House LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,292 shares of the business services provider’s stock after purchasing an additional 191 shares during the period. Automatic Data Processing comprises approximately 1.3% of Investment House LLC’s investment portfolio, making the stock its 18th biggest holding. Investment House LLC’s holdings in Automatic Data Processing were worth $18,939,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $35,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Raleigh Capital Management Inc. lifted its stake in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the period. Finally, Bfsg LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.5 %

NASDAQ ADP traded up $1.25 during trading hours on Monday, reaching $244.32. The company had a trading volume of 514,787 shares, compared to its average volume of 1,777,783. The stock has a 50-day moving average of $246.70 and a 200 day moving average of $239.12. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $100.36 billion, a P/E ratio of 28.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.29%. Automatic Data Processing’s payout ratio is currently 65.19%.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Mizuho upped their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $258.36.

Automatic Data Processing 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.