Columbus Macro LLC Has $6.25 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Columbus Macro LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 467.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,350 shares of the business services provider’s stock after buying an additional 17,588 shares during the quarter. Columbus Macro LLC’s holdings in Automatic Data Processing were worth $6,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ADP. State Street Corp lifted its position in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares during the period. Geode Capital Management LLC lifted its stake in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Automatic Data Processing by 1.3% in the 3rd 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 worth $896,197,000 after purchasing an additional 41,709 shares in the last quarter. Accredited Investors Inc. lifted its stake in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after acquiring an additional 2,264,202 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 valued at $623,419,000 after purchasing an additional 17,717 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.4 %

Automatic Data Processing stock opened at $307.32 on Tuesday. The stock has a market capitalization of $125.22 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. The company has a 50 day moving average of $297.16 and a 200-day moving average of $284.84. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS 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. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $293.55.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the 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 completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock worth $12,604,872 in the last three months. 0.21% of the stock is owned by insiders.

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.