Mayport LLC Buys Shares of 778 Automatic Data Processing, Inc. (NASDAQ:ADP)

Mayport LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 778 shares of the business services provider’s stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its stake in shares of Automatic Data Processing by 7.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 589 shares of the business services provider’s stock worth $163,000 after purchasing an additional 40 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Automatic Data Processing by 4.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,471 shares of the business services provider’s stock worth $1,007,000 after purchasing an additional 163 shares during the period. Princeton Global Asset Management LLC lifted its stake in shares of Automatic Data Processing by 174.2% in the 3rd quarter. Princeton Global Asset Management LLC now owns 724 shares of the business services provider’s stock worth $200,000 after purchasing an additional 460 shares during the period. Optas LLC lifted its stake in shares of Automatic Data Processing by 9.5% in the 3rd quarter. Optas LLC now owns 1,077 shares of the business services provider’s stock worth $298,000 after purchasing an additional 93 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Automatic Data Processing by 0.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 190,211 shares of the business services provider’s stock worth $52,637,000 after purchasing an additional 894 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho increased their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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 company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Up 1.1 %

Shares of ADP opened at $318.64 on Tuesday. The company has a market cap of $129.83 billion, a PE ratio of 33.23, a P/E/G ratio of 3.62 and a beta of 0.79. The business has a fifty day moving average of $301.15 and a 200 day moving average of $292.72. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $320.50. 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 issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 over the last three months. 0.21% of the stock is owned by insiders.

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.