Livforsakringsbolaget Skandia Omsesidigt Purchases 423 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Livforsakringsbolaget Skandia Omsesidigt increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 69.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,033 shares of the business services provider’s stock after purchasing an additional 423 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Automatic Data Processing were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ardent Capital Management Inc. acquired a new stake in Automatic Data Processing in the 3rd quarter worth approximately $392,000. Americana Partners LLC lifted its holdings in shares of Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after buying an additional 660 shares during the last quarter. Everence Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

NASDAQ:ADP traded up $0.76 during trading hours on Thursday, reaching $243.66. The company had a trading volume of 76,343 shares, compared to its average volume of 1,800,312. The stock has a 50-day moving average of $247.54 and a two-hundred day moving average of $239.18. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The firm has a market capitalization of $100.09 billion, a PE ratio of 28.28, a PEG ratio of 2.29 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 earnings per share. Analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 65.19%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI upped their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $254.58.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% 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.