US Asset Management LLC Invests $1.35 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

US Asset Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,790 shares of the business services provider’s stock, valued at approximately $1,349,000. Automatic Data Processing accounts for about 1.3% of US Asset Management LLC’s holdings, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Park Avenue Securities LLC boosted its holdings in shares of Automatic Data Processing by 0.7% during the 3rd quarter. Park Avenue Securities LLC now owns 11,842 shares of the business services provider’s stock worth $2,849,000 after buying an additional 87 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in shares of Automatic Data Processing by 15.9% in the 3rd quarter. Catalyst Financial Partners LLC now owns 1,759 shares of the business services provider’s stock worth $423,000 after purchasing an additional 241 shares in the last quarter. Keel Point LLC lifted its holdings in shares of Automatic Data Processing by 5.2% in the 3rd quarter. Keel Point LLC now owns 1,420 shares of the business services provider’s stock worth $342,000 after purchasing an additional 70 shares in the last quarter. Graypoint LLC lifted its holdings in shares of Automatic Data Processing by 9.4% in the 3rd quarter. Graypoint LLC now owns 5,461 shares of the business services provider’s stock worth $1,314,000 after purchasing an additional 467 shares in the last quarter. Finally, Gratus Capital LLC lifted its holdings in shares of Automatic Data Processing by 6.2% in the 3rd quarter. Gratus Capital LLC now owns 6,136 shares of the business services provider’s stock worth $1,476,000 after purchasing an additional 360 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity

In related news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the company’s 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 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 have sold a total of 2,966 shares of company stock valued at $749,524 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $1.89 during trading hours on Friday, hitting $247.04. The company’s stock had a trading volume of 246,887 shares, compared to its average volume of 1,748,881. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company’s 50 day simple moving average is $245.00 and its two-hundred day simple moving average is $239.02. The company has a market cap of $101.11 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. Automatic Data Processing’s payout ratio is currently 62.50%.

Automatic Data Processing Company 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.