Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Grandfield & Dodd LLC

Grandfield & Dodd LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,599 shares of the business services provider’s stock after acquiring an additional 166 shares during the quarter. Grandfield & Dodd LLC’s holdings in Automatic Data Processing were worth $1,537,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after acquiring an additional 6,763,553 shares in the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing during the 4th quarter worth $531,416,000. Imprint Wealth LLC boosted its stake in shares of Automatic Data Processing by 24,743.9% during the 2nd quarter. Imprint Wealth LLC now owns 987,795 shares of the business services provider’s stock worth $98,780,000 after acquiring an additional 983,819 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Automatic Data Processing by 22,539.4% during the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after acquiring an additional 930,199 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a 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 that occurred 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 completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,162 shares of company stock valued at $3,741,859. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. 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. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Stock Up 0.5 %

Shares of NASDAQ:ADP traded up $1.32 on Friday, reaching $243.31. The company had a trading volume of 1,638,705 shares, compared to its average volume of 1,328,916. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The stock has a 50-day moving average price of $247.22 and a 200 day moving average price of $239.23. The stock has a market capitalization of $99.95 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.27 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 posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm earned $1.96 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

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

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.