Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Cibc World Markets Corp

Cibc World Markets Corp increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,361 shares of the business services provider’s stock after purchasing an additional 9,019 shares during the quarter. Cibc World Markets Corp’s holdings in Automatic Data Processing were worth $21,475,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SlateStone Wealth LLC raised its stake in shares of Automatic Data Processing by 1.1% during the 4th quarter. SlateStone Wealth LLC now owns 43,620 shares of the business services provider’s stock worth $12,769,000 after buying an additional 457 shares during the period. GWN Securities Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth $604,000. Van Hulzen Asset Management LLC lifted its holdings in Automatic Data Processing by 1.0% during the fourth quarter. Van Hulzen Asset Management LLC now owns 77,895 shares of the business services provider’s stock valued at $22,801,000 after purchasing an additional 786 shares in the last quarter. Gallacher Capital Management LLC increased its stake in shares of Automatic Data Processing by 10.0% during the fourth quarter. Gallacher Capital Management LLC now owns 2,874 shares of the business services provider’s stock worth $841,000 after purchasing an additional 261 shares in the last quarter. Finally, one8zero8 LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $966,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ADP. UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reaffirmed 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. Finally, Barclays increased 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. Two equities research 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 MarketBeat, the company currently has an average rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $296.58 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $302.51 and a 200 day moving average price of $294.90. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The stock has a market cap of $120.84 billion, a P/E ratio of 30.93, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.