Crestline Management LP Buys 3,335 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Crestline Management LP raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,889 shares of the business services provider's stock after purchasing an additional 3,335 shares during the period. Crestline Management LP's holdings in Automatic Data Processing were worth $6,993,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ADP. Littlejohn Financial Services Inc. purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $708,000. Bath Savings Trust Co raised its holdings in Automatic Data Processing by 2.0% during the 4th quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider's stock valued at $29,068,000 after buying an additional 1,951 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Automatic Data Processing by 4.5% in the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider's stock worth $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Franklin Resources Inc. raised its position in Automatic Data Processing by 8.4% during the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider's stock valued at $194,117,000 after purchasing an additional 51,828 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its holdings in Automatic Data Processing by 121.7% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider's stock worth $3,776,000 after buying an additional 7,080 shares during the period. Institutional investors own 80.03% of the company's stock.

Insider Activity

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,451 shares of company stock valued at $743,024 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Up 0.3 %

Shares of ADP traded up $0.92 during trading hours on Friday, hitting $308.01. The company had a trading volume of 851,684 shares, compared to its average volume of 1,688,413. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $125.03 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The firm has a fifty day moving average price of $297.34 and a 200-day moving average price of $299.18.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. Barclays raised 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. TD Securities increased their price target on shares of Automatic Data Processing from $296.00 to $298.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and an average price target of $303.55.

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.