Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Lifted by Financial Counselors Inc.

Financial Counselors Inc. boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,532 shares of the business services provider’s stock after acquiring an additional 247 shares during the quarter. Financial Counselors Inc.’s holdings in Automatic Data Processing were worth $3,668,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC purchased a new stake in Automatic Data Processing during the third quarter valued at about $221,000. Avestar Capital LLC boosted its holdings in Automatic Data Processing by 10.6% in the third quarter. Avestar Capital LLC now owns 2,180 shares of the business services provider’s stock worth $603,000 after purchasing an additional 209 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Automatic Data Processing during the third quarter worth $995,000. Townsquare Capital LLC raised its holdings in Automatic Data Processing by 8.6% during the third quarter. Townsquare Capital LLC now owns 55,611 shares of the business services provider’s stock valued at $15,389,000 after buying an additional 4,405 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $302.41 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The firm has a market cap of $123.22 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76. The stock has a 50-day moving average price of $303.59 and a 200 day moving average price of $295.96.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. Research analysts expect 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 dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In other news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $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 is available through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing 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 in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last 90 days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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