Man Group plc Has $40.66 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Man Group plc trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 56.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 138,908 shares of the business services provider’s stock after selling 178,693 shares during the period. Man Group plc’s holdings in Automatic Data Processing were worth $40,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ADP. Cooper Financial Group boosted its position in shares of Automatic Data Processing by 12.8% during the 4th quarter. Cooper Financial Group now owns 1,114 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 126 shares in the last quarter. Grassi Investment Management purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $227,000. Miracle Mile Advisors LLC grew its holdings in Automatic Data Processing by 93.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 4,344 shares of the business services provider’s stock valued at $1,272,000 after purchasing an additional 2,093 shares during the period. Marcum Wealth LLC grew its holdings in Automatic Data Processing by 4.3% during the fourth quarter. Marcum Wealth LLC now owns 2,171 shares of the business services provider’s stock valued at $636,000 after purchasing an additional 90 shares during the period. Finally, PSI Advisors LLC grew its holdings in Automatic Data Processing by 3,750.0% during the fourth quarter. PSI Advisors LLC now owns 231 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 225 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Securities boosted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $303.55.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock worth $743,024 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.4%

Shares of NASDAQ ADP opened at $309.41 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. 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 company has a 50 day simple moving average of $297.49 and a 200-day simple moving average of $299.59. The company has a market capitalization of $125.60 billion, a P/E ratio of 32.26, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.99%. Automatic Data Processing’s payout ratio is 63.05%.

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.