ING Groep NV boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 89.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 187,996 shares of the business services provider’s stock after purchasing an additional 88,923 shares during the quarter. ING Groep NV’s holdings in Automatic Data Processing were worth $43,797,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ardent Capital Management Inc. purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $392,000. Americana Partners LLC increased its holdings in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after buying an additional 660 shares during the last quarter. Everence Capital Management Inc. raised its stake in Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Insider Buying and Selling
In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 2,966 shares of company stock worth $749,524 over the last three months. 0.26% of the stock is currently owned by company insiders.
Automatic Data Processing Stock Performance
NASDAQ:ADP traded up $2.27 during trading hours on Friday, hitting $252.33. 1,291,521 shares of the company traded hands, compared to its average volume of 1,377,850. The firm has a 50-day moving average of $245.37 and a 200 day moving average of $240.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $103.28 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 2.40 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.
Automatic Data Processing Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 2.22%. Automatic Data Processing’s payout ratio is 62.50%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on ADP shares. Mizuho raised their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Barclays increased their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.42.
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.