Meeder Asset Management Inc. Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Meeder Asset Management Inc. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 210.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199 shares of the business services provider’s stock after purchasing an additional 135 shares during the quarter. Meeder Asset Management Inc.’s holdings in Automatic Data Processing were worth $58,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AMG National Trust Bank grew its holdings in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 33 shares in the last quarter. Aspiriant LLC lifted its position in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC grew its stake in Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares in the last quarter. Riversedge Advisors LLC increased its holdings in Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after buying an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. raised its stake in Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 in the last three months. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $306.54 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The firm has a market capitalization of $124.90 billion, a PE ratio of 31.96, a P/E/G ratio of 3.62 and a beta of 0.76. The firm has a 50-day moving average price of $304.22 and a 200 day moving average price of $296.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, sell-side 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $1.54 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

ADP has been the subject of a number of research analyst reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $302.30.

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.