Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,395 shares of the business services provider’s stock after acquiring an additional 1,675 shares during the period. State of Alaska Department of Revenue’s holdings in Automatic Data Processing were worth $16,814,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Wellington Shields & Co. LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $29,000. Cowa LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $34,000. Timber Creek Capital Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $45,000. Bell Investment Advisors Inc increased its position in Automatic Data Processing by 33.8% during the 3rd quarter. Bell Investment Advisors Inc now owns 210 shares of the business services provider’s stock worth $47,000 after purchasing an additional 53 shares during the period. Finally, Coston McIsaac & Partners acquired a new position in Automatic Data Processing during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 79.24% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Donald Weinstein sold 5,075 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the sale, the vice president now owns 32,950 shares of the company’s stock, valued at approximately $8,072,750. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Carlos A. Rodriguez sold 37,594 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $241.29, for a total value of $9,071,056.26. Following the sale, the insider now owns 44,481 shares of the company’s stock, valued at approximately $10,732,820.49. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Donald Weinstein sold 5,075 shares of the stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the transaction, the vice president now directly owns 32,950 shares in the company, valued at approximately $8,072,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,350 shares of company stock valued at $25,301,670. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. Mizuho dropped their target price on Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, January 26th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. Barclays dropped their target price on Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a research report on Sunday, January 29th. Wolfe Research boosted their target price on Automatic Data Processing from $220.00 to $225.00 in a research report on Thursday, January 5th. Finally, JPMorgan Chase & Co. lowered their price target on Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, January 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $246.10.

Automatic Data Processing Price Performance

Shares of ADP traded down $2.58 on Friday, reaching $213.22. The stock had a trading volume of 8,927,720 shares, compared to its average volume of 1,791,330. The firm has a market capitalization of $88.35 billion, a PE ratio of 28.32, a PEG ratio of 2.21 and a beta of 0.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.00. The firm has a 50-day moving average of $226.90 and a 200 day moving average of $237.20. Automatic Data Processing, Inc. has a twelve month low of $196.61 and a twelve month high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last posted its earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The firm had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the company earned $1.65 EPS. Automatic Data Processing’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 8.12 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 9th. Automatic Data Processing’s payout ratio is currently 66.40%.

Automatic Data Processing Profile

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.