Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 508.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 572 shares of the business services provider’s stock after acquiring an additional 478 shares during the quarter. Itau Unibanco Holding S.A.’s holdings in Automatic Data Processing were worth $167,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, TD Securities upped their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $301.91.

Automatic Data Processing Stock Performance

ADP stock opened at $298.69 on Friday. The firm has a 50 day moving average of $298.38 and a two-hundred day moving average of $298.60. 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 capitalization of $121.70 billion, a price-to-earnings ratio of 31.15, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) 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 firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the company posted $2.88 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities analysts anticipate 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. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This 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 sold 4,775 shares of company stock worth $1,447,893. 0.21% of the stock is currently owned by insiders.

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.