Spring Capital Management LLC Buys 872 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Spring Capital Management LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,146 shares of the business services provider’s stock after buying an additional 872 shares during the quarter. Automatic Data Processing comprises about 3.7% of Spring Capital Management LLC’s portfolio, making the stock its 11th largest position. Spring Capital Management LLC’s holdings in Automatic Data Processing were worth $6,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after purchasing an additional 435,093 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after purchasing an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after purchasing an additional 41,709 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The shares were 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 in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last three months. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADP. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays upped their price target 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. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Finally, Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Down 0.0 %

Shares of ADP stock opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company’s fifty day simple moving average is $298.07 and its two-hundred day simple moving average is $279.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.08 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

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.