2,560 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Brooklyn FI LLC

Brooklyn FI LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,560 shares of the business services provider’s stock, valued at approximately $757,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the third quarter valued at about $26,000. Dunhill Financial LLC boosted its holdings in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of 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 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 over the last ninety days. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on ADP. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group boosted their price target on 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, Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $298.79 on Thursday. The company has a 50 day simple moving average of $302.80 and a two-hundred day simple moving average of $295.07. The stock has a market cap of $121.74 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.06%. Automatic Data Processing’s payout ratio is 64.23%.

About Automatic Data Processing

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.