Flputnam Investment Management Co. Has $8.54 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Flputnam Investment Management Co. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,187 shares of the business services provider’s stock after selling 13,300 shares during the period. Flputnam Investment Management Co.’s holdings in Automatic Data Processing were worth $8,544,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADP. Waterway Wealth Management LLC lifted its stake in Automatic Data Processing by 5.5% during the fourth quarter. Waterway Wealth Management LLC now owns 1,057 shares of the business services provider’s stock worth $309,000 after purchasing an additional 55 shares during the last quarter. Dynasty Wealth Management LLC lifted its position in shares of Automatic Data Processing by 3.1% during the 4th quarter. Dynasty Wealth Management LLC now owns 7,241 shares of the business services provider’s stock worth $2,120,000 after buying an additional 218 shares during the last quarter. Pettyjohn Wood & White Inc. boosted its stake in Automatic Data Processing by 24.6% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 12,177 shares of the business services provider’s stock valued at $3,565,000 after buying an additional 2,401 shares in the last quarter. Verus Capital Partners LLC boosted its stake in Automatic Data Processing by 9.3% in the fourth quarter. Verus Capital Partners LLC now owns 1,305 shares of the business services provider’s stock valued at $382,000 after buying an additional 111 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Automatic Data Processing by 3.9% in the fourth quarter. QRG Capital Management Inc. now owns 32,354 shares of the business services provider’s stock valued at $9,471,000 after acquiring an additional 1,228 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity at Automatic Data Processing

In related news, 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 sale, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last quarter. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 1.2 %

Shares of ADP opened at $315.18 on Friday. The stock’s 50-day moving average price is $300.66 and its two-hundred day moving average price is $292.13. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $316.46. The company has a market capitalization of $128.42 billion, a PE ratio of 32.87, a PEG ratio of 3.62 and a beta of 0.79. 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 (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Barclays increased their target price 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 shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group increased 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.55.

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.