Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Next Capital Management LLC

Next Capital Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 993 shares of the business services provider’s stock after purchasing an additional 160 shares during the quarter. Next Capital Management LLC’s holdings in Automatic Data Processing were worth $291,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 0.2 %

NASDAQ:ADP opened at $295.93 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. 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 fifty day simple moving average of $302.66 and a 200-day simple moving average of $295.04. The company has a market capitalization of $120.58 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. On average, equities research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. 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 dividend payout ratio (DPR) is presently 64.23%.

Analysts Set New Price Targets

Several brokerages have commented on ADP. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. 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 note on Thursday, January 30th. UBS Group boosted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $296.18.

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.