Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,405 shares of the business services provider’s stock after acquiring an additional 8,290 shares during the period. Guggenheim Capital LLC’s holdings in Automatic Data Processing were worth $54,859,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Cyrus J. Lawrence LLC increased its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 shares during the period. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $37,000. HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $301.56 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a market capitalization of $122.87 billion, a P/E ratio of 31.45, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $302.25 and a two-hundred day moving average price of $297.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. As a group, research 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Ratings Changes

ADP has been the subject of several recent research reports. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group increased their target price 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $302.30.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was 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 $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,775 shares of company stock worth $1,447,893. Corporate insiders own 0.21% of the company’s stock.

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.