Fielder Capital Group LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fielder Capital Group LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,393 shares of the business services provider’s stock, valued at approximately $557,000.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing during the 4th quarter valued at $35,000. Raleigh Capital Management Inc. lifted its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the period. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $41,000. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at about $42,000. 80.03% of the stock is currently owned by institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now owns 20,687 shares in the company, valued at approximately $5,159,958.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction 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 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. In the last 90 days, insiders have sold 2,966 shares of company stock worth $749,524. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Barclays boosted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Finally, TD Cowen reduced their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two research 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $2.38 during mid-day trading on Tuesday, hitting $245.12. The company had a trading volume of 1,197,966 shares, compared to its average volume of 1,781,387. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day moving average price is $245.41 and its 200-day moving average price is $238.92. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a market capitalization of $100.33 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the firm earned $2.52 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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 dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.28%. Automatic Data Processing’s payout ratio is currently 62.50%.

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.