Point72 Hong Kong Ltd Purchases Shares of 11,929 Automatic Data Processing, Inc. (NASDAQ:ADP)

Point72 Hong Kong Ltd acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,929 shares of the business services provider's stock, valued at approximately $3,492,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Main Street Group LTD raised its position in shares of Automatic Data Processing by 50.7% in 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 in the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. TD Securities raised their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $303.55.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly 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 SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the firm's 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 completion of the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Up 1.1%

ADP traded up $3.52 during trading on Friday, hitting $319.37. 1,488,982 shares of the company's stock traded hands, compared to its average volume of 1,698,742. The company's 50 day simple moving average is $298.29 and its two-hundred day simple moving average is $300.06. The company has a current ratio of 1.00, a quick 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 $322.84. The stock has a market capitalization of $129.64 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results 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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period last year, the business posted $2.88 EPS. The company's revenue was up 5.7% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.93%. Automatic Data Processing's dividend 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.