Ingalls & Snyder LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ingalls & Snyder LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,280 shares of the business services provider’s stock after buying an additional 69 shares during the quarter. Ingalls & Snyder LLC’s holdings in Automatic Data Processing were worth $4,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ADP. Moloney Securities Asset Management LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $209,000. Nomura Asset Management Co. Ltd. increased its holdings in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $470,000. Dash Acquisitions Inc. increased its holdings in Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after purchasing an additional 2,781 shares during the period. Finally, DRW Securities LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the 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 sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ ADP opened at $306.65 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The business has a 50-day moving average price of $297.26 and a 200 day moving average price of $287.71. 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 stock has a market cap of $124.95 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADP. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two 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 company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $293.55.

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.