Portfolio Design Labs LLC Purchases 884 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Portfolio Design Labs LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 47.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,759 shares of the business services provider’s stock after purchasing an additional 884 shares during the quarter. Portfolio Design Labs LLC’s holdings in Automatic Data Processing were worth $808,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. Moloney Securities Asset Management LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $209,000. Nomura Asset Management Co. Ltd. boosted its position in Automatic Data Processing by 5.8% during 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 acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $470,000. Dash Acquisitions Inc. boosted its position in Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC bought a new stake in Automatic Data Processing during the 3rd quarter valued at $951,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing 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 transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $305.78 on Wednesday. The firm has a market cap of $124.59 billion, a PE ratio of 31.89, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $297.21 and a 200-day moving average price of $287.34. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.