Polymer Capital Management US LLC Invests $710,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Polymer Capital Management US LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,424 shares of the business services provider’s stock, valued at approximately $710,000.

Several other large investors have also recently bought and sold shares of ADP. Kovitz Investment Group Partners LLC raised its position in Automatic Data Processing by 33.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,558 shares of the business services provider’s stock worth $10,117,000 after purchasing an additional 9,248 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Automatic Data Processing by 3.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 20,134 shares of the business services provider’s stock valued at $5,572,000 after purchasing an additional 726 shares during the last quarter. XTX Topco Ltd boosted its holdings in shares of Automatic Data Processing by 24.5% in the 3rd quarter. XTX Topco Ltd now owns 5,383 shares of the business services provider’s stock worth $1,490,000 after acquiring an additional 1,058 shares in the last quarter. World Investment Advisors LLC boosted its stake in Automatic Data Processing by 1,277.2% in the third quarter. World Investment Advisors LLC now owns 83,843 shares of the business services provider’s stock worth $23,202,000 after purchasing an additional 77,755 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its holdings in Automatic Data Processing by 1.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 13,606 shares of the business services provider’s stock worth $3,765,000 after acquiring an additional 149 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,364 shares of company stock valued at $1,613,094. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADP. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group lifted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $302.30.

Automatic Data Processing Trading Down 6.3 %

NASDAQ:ADP opened at $286.13 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average of $304.41 and a 200 day moving average of $297.30. The firm has a market capitalization of $116.59 billion, a P/E ratio of 29.84, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released 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 return on equity of 80.86% and a net margin of 19.76%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $1.54 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.15%. Automatic Data Processing’s payout ratio is 64.23%.

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.