Harbour Investment Management LLC Acquires 52 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Harbour Investment Management LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,074 shares of the business services provider’s stock after acquiring an additional 52 shares during the quarter. Automatic Data Processing comprises 2.2% of Harbour Investment Management LLC’s investment portfolio, making the stock its 10th biggest position. Harbour Investment Management LLC’s holdings in Automatic Data Processing were worth $5,024,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Raymond James Financial Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $342,942,000. Proficio Capital Partners LLC raised its stake in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Holocene Advisors LP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised 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 valued at $172,497,000 after acquiring an additional 479,145 shares during the period. Finally, Amundi raised its stake in shares of Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after acquiring an additional 449,431 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % 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 valued at $1,762,074 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $291.76 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The firm’s fifty day simple moving average is $302.32 and its 200-day simple moving average is $294.44. The firm has a market capitalization of $118.88 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted 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%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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. Investors of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

A number of research firms have recently issued reports on ADP. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $296.18.

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.