May Hill Capital LLC Purchases New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

May Hill Capital LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 707 shares of the business services provider’s stock, valued at approximately $207,000.

Several other large investors also recently bought and sold shares of ADP. Norges Bank purchased a new position in Automatic Data Processing in the 4th quarter valued at $455,993,000. Raymond James Financial Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth about $342,942,000. Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after buying an additional 1,087,814 shares in the last quarter. Amundi boosted its position in Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after acquiring an additional 449,431 shares during the last quarter. Finally, State Street Corp grew its stake in Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ADP shares. Barclays boosted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, UBS Group raised 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $302.30.

Insider Activity

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value 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 $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $306.54 on Wednesday. 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 has a market cap of $124.90 billion, a P/E ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.76. The firm’s 50 day moving average price is $304.22 and its 200-day moving average price is $296.84. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $1.54 per share. The ex-dividend date was Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is presently 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.