Point72 Europe London LLP Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Point72 Europe London LLP raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 68.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,700 shares of the business services provider's stock after purchasing an additional 16,600 shares during the period. Point72 Europe London LLP's holdings in Automatic Data Processing were worth $11,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cooper Financial Group increased its stake in Automatic Data Processing by 12.8% in the fourth quarter. Cooper Financial Group now owns 1,114 shares of the business services provider's stock worth $326,000 after purchasing an additional 126 shares during the period. Grassi Investment Management purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $227,000. Miracle Mile Advisors LLC increased its position in shares of Automatic Data Processing by 93.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 4,344 shares of the business services provider's stock worth $1,272,000 after acquiring an additional 2,093 shares during the period. Marcum Wealth LLC raised its stake in shares of Automatic Data Processing by 4.3% during the fourth quarter. Marcum Wealth LLC now owns 2,171 shares of the business services provider's stock valued at $636,000 after acquiring an additional 90 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Automatic Data Processing by 3,750.0% in the fourth quarter. PSI Advisors LLC now owns 231 shares of the business services provider's stock worth $68,000 after purchasing an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.2%

NASDAQ:ADP traded down $0.66 during mid-day trading on Tuesday, hitting $322.31. 313,976 shares of the company's stock traded hands, compared to its average volume of 1,822,033. The company has a fifty day moving average of $298.87 and a 200 day moving average of $300.38. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $323.17. The company has a market capitalization of $130.83 billion, a P/E ratio of 33.61, 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 data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for 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 company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.88 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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 issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, TD Securities boosted their price objective 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average price target of $303.55.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the company's 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 sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. 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 ninety days. 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.