Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 43,536 shares of the business services provider’s stock after acquiring an additional 5,291 shares during the quarter. Choate Investment Advisors’ holdings in Automatic Data Processing were worth $12,745,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC lifted its holdings in shares of Automatic Data Processing by 346.5% in 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 during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. This represents a 14.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ADP shares. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays increased their target price on shares of 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 shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Trading Up 0.4 %

NASDAQ ADP opened at $291.76 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $302.32 and its 200 day moving average price is $294.58. The company has a market capitalization of $118.88 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

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%. On average, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 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.