GAMMA Investing LLC Makes New $599,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

GAMMA Investing LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,437 shares of the business services provider’s stock, valued at approximately $599,000.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $25,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $35,000. Raleigh Capital Management Inc. raised its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Carmel Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 43.4% in the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 69 shares in the last quarter. Finally, VisionPoint Advisory Group LLC grew its position in Automatic Data Processing by 323.2% in the third quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $254.58.

Insider Activity at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 over the last quarter. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

ADP traded down $1.07 during trading on Wednesday, reaching $245.77. 416,954 shares of the company traded hands, compared to its average volume of 1,790,637. The firm has a fifty day simple moving average of $247.09 and a 200 day simple moving average of $239.21. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. 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 company has a market cap of $100.96 billion, a P/E ratio of 28.74, a PEG ratio of 2.31 and a beta of 0.78.

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

Automatic Data Processing Dividend Announcement

The company 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. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

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.