New York Life Investment Management LLC Acquires 42 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

New York Life Investment Management LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,647 shares of the business services provider’s stock after acquiring an additional 42 shares during the quarter. New York Life Investment Management LLC’s holdings in Automatic Data Processing were worth $17,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing during the third quarter valued at about $209,000. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. increased its position in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC acquired a new position in shares of Automatic Data Processing in the third quarter valued at $470,000. Finally, Dash Acquisitions Inc. lifted its position in Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after purchasing an additional 2,781 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now 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 5,478 shares of company stock valued at $1,617,241 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Trading Down 0.7 %

ADP stock opened at $311.21 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $126.80 billion, a price-to-earnings ratio of 32.45, a P/E/G ratio of 3.62 and a beta of 0.79. The business has a fifty day moving average price of $299.84 and a 200 day moving average price of $291.39. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $315.29.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.