1,523 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Sovereign s Capital Management LLC

Sovereign s Capital Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,523 shares of the business services provider's stock, valued at approximately $446,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Main Street Group LTD lifted its position 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 buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after buying an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.3%

NASDAQ:ADP traded down $0.98 during trading hours on Thursday, reaching $321.65. 1,273,166 shares of the stock were exchanged, compared to its average volume of 1,702,940. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $351.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day moving average of $300.13 and a 200 day moving average of $300.69. The stock has a market cap of $130.57 billion, a PE ratio of 33.54, a PEG 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 EPS 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 company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm posted $2.88 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Analysts Set New Price Targets

Several analysts have weighed in on ADP shares. Stifel Nicolaus boosted their price objective on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $305.64.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,451 shares of company stock worth $743,024. Company insiders own 0.21% of the company's stock.

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.