iA Global Asset Management Inc. Acquires 113 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

iA Global Asset Management Inc. increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,267 shares of the business services provider’s stock after purchasing an additional 113 shares during the quarter. iA Global Asset Management Inc.’s holdings in Automatic Data Processing were worth $14,422,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. AMG National Trust Bank grew its stake in shares of Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares during the last quarter. Aspiriant LLC lifted its holdings in Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after buying an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its holdings in Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 36 shares during the period. Riversedge Advisors LLC lifted its holdings in Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after buying an additional 37 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in Automatic Data Processing by 2.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after buying an additional 37 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. UBS Group boosted their target price 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Trading Up 1.0 %

NASDAQ:ADP opened at $298.79 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $302.80 and a 200-day moving average of $295.07. The company has a market cap of $121.74 billion, a PE ratio of 31.16, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 net margin of 19.76% and a return on equity of 80.86%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

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.