Jensen Investment Management Inc. Has $486.05 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Jensen Investment Management Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,660,416 shares of the business services provider’s stock after selling 94,699 shares during the quarter. Automatic Data Processing accounts for approximately 4.4% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 9th largest holding. Jensen Investment Management Inc.’s holdings in Automatic Data Processing were worth $486,054,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Harbour Investments Inc. lifted its stake in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares during the last quarter. Natixis Advisors LLC increased its holdings in Automatic Data Processing by 8.2% in the third quarter. Natixis Advisors LLC now owns 282,639 shares of the business services provider’s stock valued at $78,215,000 after purchasing an additional 21,420 shares during the period. Peterson Financial Group Inc. acquired a new stake in Automatic Data Processing in the third quarter valued at $50,000. Concord Asset Management LLC VA increased its holdings in Automatic Data Processing by 14.2% in the third quarter. Concord Asset Management LLC VA now owns 7,782 shares of the business services provider’s stock valued at $2,153,000 after purchasing an additional 967 shares during the period. Finally, Claro Advisors LLC grew its holdings in Automatic Data Processing by 42.0% during the 3rd quarter. Claro Advisors LLC now owns 1,315 shares of the business services provider’s stock worth $364,000 after acquiring an additional 389 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The stock has a market cap of $118.88 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $302.32 and its 200 day simple moving average is $294.74.

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 net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,951 shares of company stock worth $1,762,074. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $296.18.

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.