Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,731,270 shares of the business services provider’s stock after acquiring an additional 277,324 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Automatic Data Processing worth $11,923,265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Automatic Data Processing during the 4th quarter valued at $342,942,000. Proficio Capital Partners LLC grew its holdings 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 during the last quarter. Holocene Advisors LP acquired a new stake in Automatic Data Processing during the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Amundi grew its holdings in Automatic Data Processing by 16.8% during the 4th 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. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.7 %

Shares of NASDAQ ADP opened at $295.32 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a market cap of $120.33 billion, a P/E ratio of 30.79, a P/E/G 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. The stock has a fifty day moving average price of $303.08 and a 200 day moving average price of $295.36.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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%. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 2.09%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated 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 represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Royal Bank of Canada reissued 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 increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their target price 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $296.18.

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.