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

Next Capital Management LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.2% during the fourth quarter, according to its most recent 13F 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 institutional investors have also recently made changes to their positions in the company. Generali Investments Management Co LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $1,649,000. GM Advisory Group LLC lifted its position in shares of Automatic Data Processing by 26.8% during the 4th quarter. GM Advisory Group LLC now owns 3,731 shares of the business services provider’s stock valued at $1,092,000 after buying an additional 789 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Automatic Data Processing by 47.4% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 27,888 shares of the business services provider’s stock worth $8,167,000 after acquiring an additional 8,963 shares in the last quarter. Bestgate Wealth Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $201,000. Finally, North Forty Two & Co. purchased a new position in Automatic Data Processing during the fourth quarter valued at $292,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was 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 $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,951 shares of company stock valued at $1,762,074. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group lifted 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, Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $295.93 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The stock has a market cap of $120.58 billion, a price-to-earnings ratio of 30.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The firm has a 50 day simple moving average of $302.66 and a 200-day simple moving average of $295.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. 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.