Silver Oak Securities Incorporated Purchases 1,169 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Silver Oak Securities Incorporated raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 72.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,793 shares of the business services provider’s stock after acquiring an additional 1,169 shares during the period. Silver Oak Securities Incorporated’s holdings in Automatic Data Processing were worth $818,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADP. State Street Corp grew its position in Automatic Data Processing by 2.4% during 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 acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Automatic Data Processing by 1.3% in 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. Accredited Investors Inc. increased its stake in shares of Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Automatic Data Processing by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock valued at $623,419,000 after buying an additional 17,717 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADP shares. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Trading Down 1.0 %

NASDAQ ADP opened at $305.97 on Friday. The firm has a market capitalization of $124.67 billion, a PE ratio of 31.91, a P/E/G ratio of 3.52 and a beta of 0.79. The stock’s 50 day moving average is $297.21 and its 200 day moving average is $285.99. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

About Automatic Data Processing

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.