Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by SageView Advisory Group LLC

SageView Advisory Group LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,122 shares of the business services provider’s stock after buying an additional 73 shares during the quarter. SageView Advisory Group LLC’s holdings in Automatic Data Processing were worth $328,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $455,993,000. Winslow Capital Management LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $396,714,000. Raymond James Financial Inc. acquired a new stake in Automatic Data Processing in the 4th quarter worth about $342,942,000. Proficio Capital Partners LLC grew its holdings 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 valued at $319,199,000 after buying an additional 1,087,814 shares during the period. Finally, Amundi increased its stake in shares of Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after acquiring an additional 449,431 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $298.06 on Wednesday. The firm has a market cap of $121.45 billion, a P/E ratio of 31.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The stock has a 50-day simple moving average of $302.03 and a 200-day simple moving average of $297.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ADP. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. 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 report on Thursday, January 30th. Finally, Barclays lifted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note 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. 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 Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock worth $1,447,893 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.