Ossiam Has $3.05 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ossiam decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 10,413 shares of the business services provider’s stock after selling 76 shares during the period. Ossiam’s holdings in Automatic Data Processing were worth $3,048,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Virtu Financial LLC boosted its position in Automatic Data Processing by 202.7% in the third quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider’s stock valued at $1,348,000 after buying an additional 3,261 shares in the last quarter. Tudor Financial Inc. bought a new stake in Automatic Data Processing during the 3rd quarter worth $310,000. Anchor Investment Management LLC increased its holdings in Automatic Data Processing by 7.0% in the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider’s stock worth $4,257,000 after purchasing an additional 1,001 shares in the last quarter. Pine Valley Investments Ltd Liability Co raised its position in Automatic Data Processing by 3.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider’s stock valued at $2,753,000 after purchasing an additional 337 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 22.6% during the third quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider’s stock valued at $2,066,000 after purchasing an additional 1,378 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 0.3 %

ADP opened at $293.28 on Friday. The company has a fifty day moving average price of $301.27 and a two-hundred day moving average price of $298.21. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The company has a market cap of $119.50 billion, a P/E ratio of 30.58, 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.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.10%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,775 shares of company stock worth $1,447,893. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group raised 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. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $302.30.

About Automatic Data Processing

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.