Russell Investments Group Ltd. Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Russell Investments Group Ltd. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 490,671 shares of the business services provider’s stock after purchasing an additional 11,919 shares during the quarter. Russell Investments Group Ltd.’s holdings in Automatic Data Processing were worth $143,644,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wedbush Securities Inc. increased its position in shares of Automatic Data Processing by 10.1% during the fourth quarter. Wedbush Securities Inc. now owns 7,275 shares of the business services provider’s stock worth $2,130,000 after acquiring an additional 667 shares during the period. Aviva PLC grew its holdings in Automatic Data Processing by 2.8% during the 4th quarter. Aviva PLC now owns 962,810 shares of the business services provider’s stock worth $281,843,000 after acquiring an additional 26,141 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $38,497,000. Broderick Brian C increased its holdings in Automatic Data Processing by 1.9% during the fourth quarter. Broderick Brian C now owns 58,200 shares of the business services provider’s stock valued at $17,037,000 after buying an additional 1,082 shares during the period. Finally, Wescott Financial Advisory Group LLC raised its stake in Automatic Data Processing by 5.4% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider’s stock worth $508,000 after buying an additional 89 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 6.3 %

ADP stock opened at $286.13 on Friday. The firm has a market cap of $116.59 billion, a P/E ratio of 29.84, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $304.41 and its 200-day simple moving average is $297.03.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $1.54 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.15%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ADP. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Barclays increased their target price 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. Jefferies Financial Group lifted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $302.30.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,368 shares of company stock valued at $1,903,541 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Company 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.