683 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Pure Financial Advisors LLC

Pure Financial Advisors LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 683 shares of the business services provider’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after buying an additional 424,328 shares during the last quarter. Geode Capital Management LLC grew its position in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after acquiring an additional 286,080 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Legal & General Group Plc raised its position in Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock valued at $846,912,000 after purchasing an additional 139,561 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after purchasing an additional 41,709 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $296.36 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The firm’s 50-day simple moving average is $297.49 and its two-hundred day simple moving average is $281.46. The stock has a market cap of $120.75 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the business posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

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.