Smartleaf Asset Management LLC Buys 1,054 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Smartleaf Asset Management LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,830 shares of the business services provider’s stock after purchasing an additional 1,054 shares during the period. Smartleaf Asset Management LLC’s holdings in Automatic Data Processing were worth $1,708,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC lifted its stake in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the business’s 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 transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Up 1.2 %

Shares of NASDAQ:ADP opened at $315.18 on Monday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $316.46. The business’s fifty day simple moving average is $300.66 and its 200-day simple moving average is $292.34. The company has a market capitalization of $128.42 billion, a PE ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced 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%. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Mizuho raised their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Barclays raised their price target 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. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Two investment 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $293.55.

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.