Automatic Data Processing, Inc. (NASDAQ:ADP) is Dillon & Associates Inc.’s 8th Largest Position

Dillon & Associates Inc. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 68,930 shares of the business services provider’s stock after selling 211 shares during the period. Automatic Data Processing makes up approximately 2.8% of Dillon & Associates Inc.’s portfolio, making the stock its 8th largest holding. Dillon & Associates Inc.’s holdings in Automatic Data Processing were worth $20,196,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $342,942,000. Proficio Capital Partners LLC grew its position in Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the period. Holocene Advisors LP bought a new stake in Automatic Data Processing in the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares during the period. Finally, Amundi grew its position in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after purchasing an additional 449,431 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on ADP shares. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $295.32 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $120.33 billion, a P/E ratio of 30.79, a P/E/G ratio of 3.62 and a beta of 0.76. The company’s 50-day simple moving average is $303.08 and its two-hundred day simple moving average is $295.50. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.09%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.