Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,065 shares of the business services provider’s stock after buying an additional 2,854 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Automatic Data Processing were worth $56,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Public Sector Pension Investment Board raised its stake in Automatic Data Processing by 71.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after acquiring an additional 6,439 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $203,000. Point72 Hong Kong Ltd lifted its holdings in shares of Automatic Data Processing by 2,056.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 13,950 shares of the business services provider’s stock valued at $3,330,000 after purchasing an additional 13,303 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Automatic Data Processing by 13.7% in the 2nd quarter. AQR Capital Management LLC now owns 355,778 shares of the business services provider’s stock valued at $84,921,000 after purchasing an additional 42,969 shares during the period. Finally, APG Asset Management N.V. grew its stake in Automatic Data Processing by 2.9% during the 2nd quarter. APG Asset Management N.V. now owns 486,731 shares of the business services provider’s stock worth $108,400,000 after buying an additional 13,683 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays increased their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ ADP opened at $295.80 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $297.27 and a 200 day moving average price of $281.56. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The stock has a market capitalization of $120.53 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.47 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.08 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS 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. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.