Cullinan Associates Inc. Has $3.16 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cullinan Associates Inc. decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,800 shares of the business services provider’s stock after selling 100 shares during the period. Cullinan Associates Inc.’s holdings in Automatic Data Processing were worth $3,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Accredited Investors Inc. grew its stake in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Automatic Data Processing during the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in 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 valued at $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, State Street Corp lifted its position in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after purchasing an additional 424,328 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $307.32 on Tuesday. The firm has a market cap of $125.22 billion, a P/E ratio of 32.05, a PEG ratio of 3.52 and a beta of 0.79. The firm has a 50-day moving average of $297.16 and a 200 day moving average of $284.84. 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 debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

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 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, research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s payout ratio is 64.23%.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 362 shares of the firm’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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $293.55.

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.