PCG Asset Management LLC Invests $284,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

PCG Asset Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 970 shares of the business services provider’s stock, valued at approximately $284,000.

Several other large investors have also bought and sold shares of ADP. State Street Corp lifted its position in shares of Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after purchasing an additional 424,328 shares during the period. Geode Capital Management LLC lifted its holdings in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after buying an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after acquiring an additional 41,709 shares during the last quarter. Accredited Investors Inc. grew its holdings in Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after acquiring an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Automatic Data Processing by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock worth $623,419,000 after acquiring an additional 17,717 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP opened at $315.18 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $316.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $300.66 and a two-hundred day moving average price of $292.13. The firm has a market capitalization of $128.42 billion, a P/E ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADP. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by insiders.

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.