6,495 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Duality Advisers LP

Duality Advisers LP bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,495 shares of the business services provider’s stock, valued at approximately $1,513,000.

Several other institutional investors have also added to or reduced their stakes in ADP. Heritage Investment Group Inc. raised its holdings in shares of Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares during the period. Argus Investors Counsel Inc. increased its stake in Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares during the period. Trust Co. of Toledo NA OH boosted its position in Automatic Data Processing by 0.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after buying an additional 45 shares during the period. Schechter Investment Advisors LLC grew its stake in shares of Automatic Data Processing by 1.1% in the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after acquiring an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its position in shares of Automatic Data Processing by 1.0% during the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after acquiring an additional 47 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Up 1.2 %

Shares of NASDAQ ADP opened at $246.31 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock’s 50 day simple moving average is $247.15 and its 200 day simple moving average is $239.21.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company posted $1.96 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.27%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADP. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $254.58.

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.