DnB Asset Management AS Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

DnB Asset Management AS lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,149 shares of the business services provider’s stock after purchasing an additional 151 shares during the period. DnB Asset Management AS’s holdings in Automatic Data Processing were worth $42,782,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Littlejohn Financial Services Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $708,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares in the last quarter. Bath Savings Trust Co lifted its stake in Automatic Data Processing by 2.0% in the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after acquiring an additional 1,951 shares during the period. Principal Financial Group Inc. grew its holdings in Automatic Data Processing by 4.5% during the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after acquiring an additional 22,766 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after purchasing an additional 51,828 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $305.43 on Friday. The firm has a market capitalization of $124.45 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $303.77 and its 200-day moving average price is $296.02. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the business’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 transaction, the vice president now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,756,961. The trade was a 14.81 % 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. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $302.30.

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.