1,310 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Certior Financial Group LLC

Certior Financial Group LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,310 shares of the business services provider’s stock, valued at approximately $384,000.

Several other hedge funds have also added to or reduced their stakes in the business. Polymer Capital Management US LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter worth about $710,000. FMR LLC boosted its position in shares of Automatic Data Processing by 0.6% during the 4th quarter. FMR LLC now owns 1,268,211 shares of the business services provider’s stock worth $371,243,000 after purchasing an additional 7,082 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Automatic Data Processing by 0.8% during the fourth quarter. Quadrant Capital Group LLC now owns 7,243 shares of the business services provider’s stock valued at $2,120,000 after acquiring an additional 54 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co increased its stake in Automatic Data Processing by 149.1% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 66,000 shares of the business services provider’s stock valued at $19,320,000 after purchasing an additional 39,500 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Automatic Data Processing by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 490,671 shares of the business services provider’s stock valued at $143,644,000 after acquiring an additional 11,919 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $286.13 on Monday. The company has a market cap of $116.59 billion, a P/E ratio of 29.84, a PEG ratio of 3.62 and a beta of 0.74. The stock’s 50-day moving average is $304.41 and its 200 day moving average is $297.30. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADP. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. 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. Finally, Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $302.30.

Insider Activity

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing 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 directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,364 shares of company stock worth $1,613,094 over the last quarter. 0.21% of the stock is currently owned by corporate insiders.

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.