Junto Capital Management LP Invests $28.75 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Junto Capital Management LP bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 98,224 shares of the business services provider’s stock, valued at approximately $28,753,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Automatic Data Processing in the fourth quarter worth approximately $455,993,000. Winslow Capital Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $396,714,000. Capital Research Global Investors boosted its stake in shares of Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at $342,942,000. Finally, Proficio Capital Partners LLC raised its position in Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group boosted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. TD Securities raised their target price on shares of Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $303.55.

Automatic Data Processing Stock Up 0.3 %

NASDAQ:ADP opened at $308.01 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average price is $297.34 and its 200-day moving average price is $299.24. The company has a market capitalization of $125.03 billion, a PE ratio of 32.12, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the prior year, the company earned $2.88 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed 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. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction 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 sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is currently owned by corporate insiders.

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.