Generali Asset Management SPA SGR Makes New $15.09 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Generali Asset Management SPA SGR purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 51,549 shares of the business services provider’s stock, valued at approximately $15,090,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. AMG National Trust Bank grew its holdings in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 33 shares in the last quarter. Aspiriant LLC grew its holdings in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Riversedge Advisors LLC grew its holdings in Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its holdings in shares of Automatic Data Processing by 2.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after buying an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $296.58 on Tuesday. The stock has a market cap of $120.84 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company’s 50-day moving average price is $302.51 and its 200 day moving average price is $294.90. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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 net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $296.18.

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.