Silver Lake Advisory LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Silver Lake Advisory LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,031 shares of the business services provider’s stock after purchasing an additional 34 shares during the period. Automatic Data Processing makes up 2.3% of Silver Lake Advisory LLC’s investment portfolio, making the stock its 13th largest holding. Silver Lake Advisory LLC’s holdings in Automatic Data Processing were worth $5,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accredited Investors Inc. grew its position in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after acquiring an additional 1,190,407 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $295.80 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The stock has a 50 day moving average of $297.27 and a 200 day moving average of $281.56. The firm has a market cap of $120.53 billion, a PE ratio of 31.57, a PEG ratio of 3.47 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is currently 65.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ADP shares. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho increased their target price 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. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were 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 in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by company 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.