1,348 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,348 shares of the business services provider’s stock, valued at approximately $394,000.

Other large investors also recently modified their holdings of the company. Moloney Securities Asset Management LLC purchased a new position in Automatic Data Processing in the third quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. grew its position in shares of Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at $470,000. Dash Acquisitions Inc. raised its stake in Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC purchased a new stake in Automatic Data Processing in the third quarter valued at $951,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the firm’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 owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Down 1.0 %

Shares of NASDAQ:ADP opened at $305.97 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s 50-day simple moving average is $297.20 and its 200-day simple moving average is $286.66. The company has a market cap of $124.67 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. As a group, equities research analysts predict 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 issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) 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.