Quadrant Capital Group LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Quadrant Capital Group LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,243 shares of the business services provider’s stock after acquiring an additional 54 shares during the quarter. Quadrant Capital Group LLC’s holdings in Automatic Data Processing were worth $2,120,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $455,993,000. Raymond James Financial Inc. purchased a new position in Automatic Data Processing during the 4th quarter worth $342,942,000. Proficio Capital Partners LLC increased its position in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after buying an additional 1,087,814 shares in the last quarter. Amundi raised its stake 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 valued at $910,972,000 after buying an additional 449,431 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Automatic Data Processing by 1,029.7% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 420,257 shares of the business services provider’s stock worth $132,429,000 after acquiring an additional 383,057 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,368 shares of company stock worth $1,903,541. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 6.3 %

Automatic Data Processing stock opened at $286.13 on Friday. The firm has a market capitalization of $116.59 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.62 and a beta of 0.74. 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 twelve month low of $231.27 and a twelve month high of $322.84. The stock’s fifty day simple moving average is $304.41 and its 200-day simple moving average is $297.15.

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

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays raised 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 downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $302.30.

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.