977 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Novem Group

Novem Group bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 977 shares of the business services provider's stock, valued at approximately $286,000.

Several other hedge funds also recently modified their holdings of the business. Main Street Group LTD boosted its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing during the 4th quarter worth $37,000. Institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADP. 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. Wall Street Zen cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $305.64.

Insider Transactions at Automatic Data Processing

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

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.34 on Wednesday, reaching $325.37. 334,443 shares of the company's stock traded hands, compared to its average volume of 1,700,117. The stock has a 50-day simple moving average of $302.14 and a 200 day simple moving average of $301.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.12. The stock has a market cap of $132.08 billion, a PE ratio of 33.90, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $5.49 billion. During the same period last year, the company earned $2.88 EPS. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

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.