Jacobs Levy Equity Management Inc. Has $84.85 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 56.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 289,865 shares of the business services provider’s stock after selling 379,071 shares during the period. Jacobs Levy Equity Management Inc. owned 0.07% of Automatic Data Processing worth $84,852,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing during the 4th quarter worth $708,000. Relyea Zuckerberg Hanson LLC increased its position in Automatic Data Processing by 121.7% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider’s stock worth $3,776,000 after purchasing an additional 7,080 shares in the last quarter. Wedmont Private Capital lifted its stake in shares of Automatic Data Processing by 67.9% in the 4th quarter. Wedmont Private Capital now owns 6,292 shares of the business services provider’s stock valued at $1,805,000 after acquiring an additional 2,545 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 228,973 shares of the business services provider’s stock worth $63,363,000 after purchasing an additional 2,203 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at approximately $2,693,000. 80.03% of the stock is owned by institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,451 shares of company stock worth $743,024 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. TD Securities lifted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $303.55.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ:ADP opened at $308.01 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $297.34 and its 200-day moving average price is $299.24. The stock has a market capitalization of $125.03 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s payout ratio is presently 63.05%.

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.