Generali Asset Management SPA SGR Invests $15.09 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Generali Asset Management SPA SGR purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 51,549 shares of the business services provider’s stock, valued at approximately $15,090,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on ADP shares. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group upped their target price 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. Finally, Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.18.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,951 shares of company stock worth $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $296.58 on Tuesday. 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 company has a market capitalization of $120.84 billion, a P/E ratio of 30.93, a P/E/G ratio of 3.62 and a beta of 0.76. The company’s 50-day simple moving average is $302.51 and its two-hundred day simple moving average is $294.90. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.