one8zero8 LLC Acquires Shares of 3,299 Automatic Data Processing, Inc. (NASDAQ:ADP)

one8zero8 LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,299 shares of the business services provider’s stock, valued at approximately $966,000.

Several other institutional investors have also recently made changes to their positions in ADP. Raymond James Financial Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $342,942,000. Proficio Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after acquiring an additional 1,087,814 shares during the last quarter. Holocene Advisors LP purchased a new position in Automatic Data Processing in the 3rd quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the period. Finally, Amundi lifted its holdings in Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after buying an additional 449,431 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several research reports. 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, January 30th. StockNews.com cut 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 issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group increased their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $291.76 on Friday. 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 market capitalization of $118.88 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock’s fifty day simple moving average is $302.32 and its two-hundred day simple moving average is $294.58. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,951 shares of company stock worth $1,762,074. Insiders own 0.21% of the company’s stock.

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.