Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,243 shares of the business services provider’s stock after purchasing an additional 1,047 shares during the quarter. D.A. Davidson & CO.’s holdings in Automatic Data Processing were worth $76,181,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Creative Planning raised its stake in shares of Automatic Data Processing by 2.8% in the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares in the last quarter. Veracity Capital LLC acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $204,000. OLD National Bancorp IN lifted its holdings in Automatic Data Processing by 4.7% during the 3rd quarter. OLD National Bancorp IN now owns 12,692 shares of the business services provider’s stock worth $3,512,000 after buying an additional 567 shares during the last quarter. Arlington Partners LLC grew its position in shares of Automatic Data Processing by 14.3% in the 3rd quarter. Arlington Partners LLC now owns 14,664 shares of the business services provider’s stock worth $4,058,000 after acquiring an additional 1,829 shares in the last quarter. Finally, Bellecapital International Ltd. increased its holdings in shares of Automatic Data Processing by 0.5% in the 3rd quarter. Bellecapital International Ltd. now owns 24,425 shares of the business services provider’s stock valued at $6,759,000 after acquiring an additional 131 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP opened at $308.15 on Tuesday. The business has a 50 day moving average price of $297.56 and a two-hundred day moving average price of $288.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $125.56 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $293.55.

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.