Haven Private LLC Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Haven Private LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,277 shares of the business services provider’s stock, valued at approximately $667,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after acquiring an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after acquiring an additional 41,709 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Automatic Data Processing by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock worth $679,675,000 after acquiring an additional 69,042 shares in the last quarter. Finally, Accredited Investors Inc. increased its position in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after acquiring an additional 2,264,202 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 2.6 %

ADP opened at $302.46 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $301.87 and its 200 day simple moving average is $293.26. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The stock has a market cap of $123.24 billion, a PE ratio of 31.54, a P/E/G ratio of 3.62 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Analyst Ratings Changes

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

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the firm’s 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 sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

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.