Livforsakringsbolaget Skandia Omsesidigt Buys 423 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 69.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,033 shares of the business services provider’s stock after acquiring an additional 423 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Automatic Data Processing were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in Automatic Data Processing in the 3rd quarter worth $25,000. Coppell Advisory Solutions LLC bought a new stake in Automatic Data Processing in the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Automatic Data Processing during the first quarter worth approximately $31,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $33,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ:ADP traded up $0.76 during trading hours on Thursday, reaching $243.66. The stock had a trading volume of 76,343 shares, compared to its average volume of 1,800,312. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The firm’s 50 day moving average is $247.54 and its 200-day moving average is $239.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $100.09 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $1.96 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Insider Activity at Automatic Data Processing

In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.