Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Main Street Research LLC

Main Street Research LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,427 shares of the business services provider’s stock after buying an additional 255 shares during the quarter. Main Street Research LLC’s holdings in Automatic Data Processing were worth $1,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Littlejohn Financial Services Inc. purchased a new position in Automatic Data Processing during the fourth quarter worth $708,000. Nomura Asset Management Co. Ltd. increased its position in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $470,000. DRW Securities LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at about $951,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Automatic Data Processing by 51.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 18,925 shares of the business services provider’s stock valued at $5,236,000 after purchasing an additional 6,399 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 1.3 %

NASDAQ ADP opened at $306.45 on Monday. The firm has a market capitalization of $124.87 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company’s 50 day moving average price is $302.08 and its 200 day moving average price is $293.93.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current 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 given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, 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. Two 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $296.18.

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.