1,486 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Sherbrooke Park Advisers LLC

Sherbrooke Park Advisers LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, Holdings Channel reports. The fund purchased 1,486 shares of the business services provider’s stock, valued at approximately $435,000.

Other hedge funds have also bought and sold shares of the company. Grassi Investment Management bought a new position in Automatic Data Processing in the fourth quarter worth about $227,000. Carnegie Investment Counsel lifted its holdings in Automatic Data Processing by 55.9% in the fourth quarter. Carnegie Investment Counsel now owns 10,336 shares of the business services provider’s stock worth $3,026,000 after acquiring an additional 3,708 shares during the last quarter. Goldstone Financial Group LLC lifted its holdings in Automatic Data Processing by 9.4% in the fourth quarter. Goldstone Financial Group LLC now owns 886 shares of the business services provider’s stock worth $259,000 after acquiring an additional 76 shares during the last quarter. Chemistry Wealth Management LLC lifted its holdings in Automatic Data Processing by 15.8% in the fourth quarter. Chemistry Wealth Management LLC now owns 2,381 shares of the business services provider’s stock worth $697,000 after acquiring an additional 324 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in Automatic Data Processing by 22.6% in the fourth quarter. Merit Financial Group LLC now owns 15,077 shares of the business services provider’s stock worth $4,413,000 after acquiring an additional 2,775 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. TD Securities lifted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $303.55.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $319.37 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $129.64 billion, a PE ratio of 33.30, a P/E/G ratio of 3.62 and a beta of 0.76. The company’s 50 day simple moving average is $298.29 and its 200 day simple moving average is $300.06.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the business earned $2.88 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

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.