Automatic Data Processing, Inc. (NASDAQ:ADP) is Peninsula Asset Management Inc.’s 10th Largest Position

Peninsula Asset Management Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,663 shares of the business services provider’s stock after selling 115 shares during the period. Automatic Data Processing makes up 3.5% of Peninsula Asset Management Inc.’s portfolio, making the stock its 10th biggest holding. Peninsula Asset Management Inc.’s holdings in Automatic Data Processing were worth $6,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC lifted its position in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after acquiring an additional 41,709 shares during the period. Amundi raised its position in Automatic Data Processing by 16.8% in the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after acquiring an additional 449,431 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Automatic Data Processing by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock worth $679,675,000 after purchasing an additional 69,042 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.4 %

NASDAQ ADP opened at $291.76 on Friday. The company’s fifty day simple moving average is $302.32 and its 200-day simple moving average is $294.44. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week 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 has a market cap of $118.88 billion, a P/E ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76.

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

Automatic Data Processing Announces Dividend

The business also recently declared 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. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last three months. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. 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 research note on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $296.18.

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.