Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Tortoise Investment Management LLC

Tortoise Investment Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 768 shares of the business services provider’s stock after purchasing an additional 63 shares during the period. Tortoise Investment Management LLC’s holdings in Automatic Data Processing were worth $225,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter worth approximately $26,000. Dunhill Financial LLC lifted its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the third quarter worth approximately $35,000. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group increased their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company 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 issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $296.18.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $302.99 on Tuesday. The stock has a fifty day moving average of $302.28 and a 200-day moving average of $294.17. The firm has a market capitalization of $123.46 billion, a P/E ratio of 31.59, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. 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 released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio is 64.23%.

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.