Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,354 shares of the business services provider’s stock after buying an additional 1,228 shares during the period. QRG Capital Management Inc.’s holdings in Automatic Data Processing were worth $9,471,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ADP. McGrath & Associates Inc. purchased a new position in Automatic Data Processing in the 4th quarter valued at about $691,000. Proficio Capital Partners LLC raised its position in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after buying an additional 1,087,814 shares during the last quarter. Kovack Advisors Inc. raised its position in shares of Automatic Data Processing by 72.9% in the fourth quarter. Kovack Advisors Inc. now owns 1,482 shares of the business services provider’s stock valued at $434,000 after buying an additional 625 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in shares of Automatic Data Processing by 1.8% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 162,465 shares of the business services provider’s stock valued at $47,558,000 after buying an additional 2,800 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $55,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP opened at $311.30 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $315.29. The company has a 50 day moving average of $300.24 and a two-hundred day moving average of $291.53. The company has a market cap of $126.84 billion, a P/E ratio of 32.46, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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

Automatic Data Processing Announces Dividend

The business 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 $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were 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 of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADP has been the subject of several analyst reports. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Barclays raised their target price on shares of 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target 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.