Novem Group Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Novem Group bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 977 shares of the business services provider's stock, valued at approximately $286,000.

A number of other hedge funds have also recently bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Automatic Data Processing by 14.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 78,096 shares of the business services provider's stock valued at $22,861,000 after buying an additional 9,804 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in Automatic Data Processing by 48.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 9,876 shares of the business services provider's stock worth $2,891,000 after purchasing an additional 3,217 shares during the last quarter. Kolinsky Wealth Management LLC raised its holdings in Automatic Data Processing by 15.1% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,205 shares of the business services provider's stock worth $353,000 after purchasing an additional 158 shares during the last quarter. Ames National Corp bought a new stake in Automatic Data Processing during the 4th quarter worth about $1,749,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Automatic Data Processing by 16.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider's stock worth $1,103,888,000 after purchasing an additional 532,485 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

ADP opened at $321.65 on Friday. 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, Inc. has a 12 month low of $231.27 and a 12 month high of $323.66. The company has a fifty day simple moving average of $300.63 and a 200 day simple moving average of $300.90. The stock has a market cap of $130.57 billion, a P/E ratio of 33.54, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data 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. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the business posted $2.88 EPS. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is 63.05%.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 over the last quarter. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ADP. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Wall Street Zen cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Stifel Nicolaus raised their price objective on shares of 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 reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. Finally, UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. One research 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, the company has a consensus rating of "Hold" and a consensus target price of $305.64.

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.

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