Point72 Asia Singapore Pte. Ltd. Invests $37,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 127 shares of the business services provider’s stock, valued at approximately $37,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMG National Trust Bank boosted its position 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 during the period. Aspiriant LLC boosted its position in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC boosted its position in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares during the period. Rehmann Capital Advisory Group boosted its position in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after acquiring an additional 36 shares during the period. Finally, Gilbert & Cook Inc. boosted its position in Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock worth $539,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on ADP shares. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. TD Securities boosted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $303.55.

Automatic Data Processing Trading Up 1.1%

Shares of ADP stock opened at $322.96 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $328.00. The stock has a market capitalization of $131.10 billion, a P/E ratio of 33.68, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $298.87 and a 200 day simple moving average of $300.38.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the business posted $2.88 EPS. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing 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.