Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Riversedge Advisors LLC

Riversedge Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 916 shares of the business services provider’s stock after purchasing an additional 37 shares during the period. Riversedge Advisors LLC’s holdings in Automatic Data Processing were worth $268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Seven Eight Capital LP acquired a new stake in Automatic Data Processing during the second quarter worth about $314,000. XTX Topco Ltd bought a new position in shares of Automatic Data Processing during the second quarter valued at approximately $1,032,000. MQS Management LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $296,000. Brighton Jones LLC raised its position in shares of Automatic Data Processing by 3.3% during the 2nd quarter. Brighton Jones LLC now owns 8,026 shares of the business services provider’s stock worth $1,916,000 after purchasing an additional 255 shares during the period. Finally, Ieq Capital LLC lifted its holdings in shares of Automatic Data Processing by 10.5% in the 2nd quarter. Ieq Capital LLC now owns 23,897 shares of the business services provider’s stock worth $5,704,000 after purchasing an additional 2,278 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day moving average price is $297.90 and its 200 day moving average price is $279.99. The stock has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.08 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared 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 of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Mizuho upped their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday. Finally, UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing 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.