Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Mystic Asset Management Inc.

Mystic Asset Management Inc. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,282 shares of the business services provider’s stock after purchasing an additional 827 shares during the period. Mystic Asset Management Inc.’s holdings in Automatic Data Processing were worth $2,717,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth approximately $342,942,000. Proficio Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing in the third quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares in the last quarter. Finally, Amundi grew its holdings in shares of Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after buying an additional 449,431 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note 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. Finally, UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Trading Up 1.7 %

NASDAQ:ADP opened at $296.58 on Tuesday. The company’s 50 day moving average is $302.51 and its 200-day moving average is $294.90. 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, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The firm has a market cap of $120.84 billion, a price-to-earnings ratio of 30.93, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is 64.23%.

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.