Synergy Investment Management LLC Invests $393,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Synergy Investment Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,342 shares of the business services provider’s stock, valued at approximately $393,000.

A number of other large investors have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC lifted its holdings in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.1 %

ADP opened at $318.64 on Tuesday. 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 52 week low of $231.27 and a 52 week high of $320.50. The stock has a market cap of $129.83 billion, a PE ratio of 33.23, a PEG ratio of 3.62 and a beta of 0.79. The business has a 50 day moving average of $301.15 and a 200-day moving average of $292.72.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group upped 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. Royal Bank of Canada reissued 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. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays lifted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $293.55.

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.