Sapient Capital LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sapient Capital LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,444 shares of the business services provider’s stock, valued at approximately $338,000.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at $35,000. Evolution Advisers Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Raleigh Capital Management Inc. boosted its holdings in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $42,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.4 %

NASDAQ ADP opened at $242.74 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $99.35 billion, a PE ratio of 27.09, a PEG ratio of 2.30 and a beta of 0.78. The firm has a 50-day simple moving average of $245.41 and a 200 day simple moving average of $238.92.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.52 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on ADP. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $255.42.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now owns 20,687 shares in the company, valued at $5,159,958.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,966 shares of company stock worth $749,524. 0.26% of the stock is currently owned by corporate insiders.

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.