McAdam LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

McAdam LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,036 shares of the business services provider’s stock after acquiring an additional 242 shares during the period. McAdam LLC’s holdings in Automatic Data Processing were worth $596,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing during the 3rd quarter valued at $209,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new position in shares of Automatic Data Processing during the third quarter worth about $470,000. Dash Acquisitions Inc. grew its stake in Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after purchasing an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in Automatic Data Processing in the third quarter valued at about $951,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday. Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $291.27.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $303.01 on Monday. The firm’s 50 day moving average is $297.16 and its two-hundred day moving average is $284.59. The firm has a market capitalization of $123.46 billion, a P/E ratio of 31.60, a PEG ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 81.85% and a net margin of 19.76%. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business 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 of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.