Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Silver Lake Advisory LLC

Silver Lake Advisory LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 18,031 shares of the business services provider’s stock after buying an additional 34 shares during the period. Automatic Data Processing comprises about 2.3% of Silver Lake Advisory LLC’s portfolio, making the stock its 13th largest holding. Silver Lake Advisory LLC’s holdings in Automatic Data Processing were worth $5,278,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $26,000. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 in the last 90 days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $295.80 on Friday. The stock has a market cap of $120.53 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.47 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The business has a fifty day moving average of $297.27 and a 200-day moving average of $281.56. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.08 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analyst Ratings Changes

Several equities research analysts recently commented on ADP shares. Barclays boosted their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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.