Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Amalgamated Bank

Amalgamated Bank raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 92,767 shares of the business services provider’s stock after purchasing an additional 4,756 shares during the period. Amalgamated Bank’s holdings in Automatic Data Processing were worth $27,156,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC lifted its stake in 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 purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business’s 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 transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction, the vice president now owns 13,706 shares in the company, valued at approximately $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 three months, insiders have sold 5,478 shares of company stock valued at $1,617,241. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.5 %

ADP opened at $312.20 on Tuesday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $314.06. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $127.21 billion, a P/E ratio of 32.55, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The business’s 50-day simple moving average is $299.03 and its 200-day simple moving average is $290.89.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price 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 restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing 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.