Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 260,243 shares of the business services provider’s stock after buying an additional 1,047 shares during the quarter. D.A. Davidson & CO. owned about 0.06% of Automatic Data Processing worth $76,181,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in Automatic Data Processing by 1.8% in the 4th quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock valued at $45,647,000 after buying an additional 2,787 shares during the period. Pittenger & Anderson Inc. increased its stake in shares of Automatic Data Processing by 0.4% during the fourth quarter. Pittenger & Anderson Inc. now owns 47,374 shares of the business services provider’s stock worth $13,868,000 after acquiring an additional 185 shares during the period. Sierra Ocean LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $235,000. Monument Capital Management lifted its position in Automatic Data Processing by 9.8% in the fourth quarter. Monument Capital Management now owns 1,192 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 106 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Automatic Data Processing by 145.2% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 11,762 shares of the business services provider’s stock valued at $3,443,000 after purchasing an additional 6,966 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $308.15 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day moving average price is $297.56 and its 200 day moving average price is $288.77. The firm has a market cap of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 return on equity of 80.86% and a net margin of 19.76%. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have 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, the company presently has an average rating of “Hold” and a consensus target price of $293.55.

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.