E. Ohman J or Asset Management AB Buys 2,040 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

E. Ohman J or Asset Management AB raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.3% in the fourth quarter, Holdings Channel reports. The firm owned 18,559 shares of the business services provider’s stock after acquiring an additional 2,040 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Automatic Data Processing were worth $5,433,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Czech National Bank raised its holdings in shares of Automatic Data Processing by 6.5% in the 3rd quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock valued at $22,989,000 after purchasing an additional 5,077 shares during the period. GAMMA Investing LLC increased its position in Automatic Data Processing by 23.6% during the third quarter. GAMMA Investing LLC now owns 7,418 shares of the business services provider’s stock worth $2,053,000 after buying an additional 1,415 shares during the last quarter. Diversified Trust Co raised its stake in Automatic Data Processing by 15.5% in the third quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock valued at $3,473,000 after buying an additional 1,683 shares during the period. Miracle Mile Advisors LLC lifted its position in shares of Automatic Data Processing by 16.3% in the third quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock valued at $623,000 after buying an additional 316 shares during the last quarter. Finally, McLean Asset Management Corp acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $219,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Up 1.4 %

NASDAQ ADP opened at $307.32 on Tuesday. The company has a market cap of $125.22 billion, a price-to-earnings ratio of 32.05, a PEG ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $297.16 and a 200-day moving average of $284.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction 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 in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 in the last ninety days. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing 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.