Fideuram Asset Management Ireland dac bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 12,371 shares of the business services provider’s stock, valued at approximately $3,182,000.
A number of other institutional investors and hedge funds have also bought and sold shares of ADP. Brighton Jones LLC grew its position in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bison Wealth LLC grew its position in Automatic Data Processing by 22.8% during the fourth quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock valued at $1,073,000 after acquiring an additional 681 shares during the last quarter. Schnieders Capital Management LLC. grew its position in Automatic Data Processing by 21.8% during the second quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock valued at $388,000 after acquiring an additional 225 shares during the last quarter. Osterweis Capital Management Inc. bought a new position in Automatic Data Processing during the second quarter valued at approximately $108,000. Finally, Diversify Advisory Services LLC grew its position in Automatic Data Processing by 17.5% during the second quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock valued at $1,641,000 after acquiring an additional 815 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.
Automatic Data Processing Stock Up 1.0%
Shares of Automatic Data Processing stock opened at $219.86 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $329.93. The stock has a market capitalization of $87.88 billion, a price-to-earnings ratio of 20.51 and a beta of 0.83. The company’s 50 day moving average price is $207.35 and its 200-day moving average price is $231.00.
Automatic Data Processing Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $1.70 dividend. The ex-dividend date is Friday, June 12th. This represents a $6.80 annualized dividend and a dividend yield of 3.1%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.43%.
Insider Activity
In other news, VP Christopher D’ambrosio sold 543 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $208.45, for a total value of $113,188.35. Following the transaction, the vice president owned 8,912 shares in the company, valued at approximately $1,857,706.40. This trade represents a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on ADP. Argus reduced their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Robert W. Baird reduced their price target on shares of Automatic Data Processing from $300.00 to $270.00 in a research report on Thursday, April 30th. Cantor Fitzgerald reduced their price target on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Stifel Nicolaus reduced their price target on shares of Automatic Data Processing from $270.00 to $240.00 in a research report on Thursday, April 30th. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $210.00 to $218.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $249.00.
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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