Quantinno Capital Management LP Buys 13,014 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Quantinno Capital Management LP boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 29.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,780 shares of the business services provider's stock after acquiring an additional 13,014 shares during the period. Quantinno Capital Management LP's holdings in Automatic Data Processing were worth $16,621,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Littlejohn Financial Services Inc. purchased a new stake in Automatic Data Processing during the fourth quarter valued at $708,000. Relyea Zuckerberg Hanson LLC increased its holdings in shares of Automatic Data Processing by 121.7% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider's stock worth $3,776,000 after buying an additional 7,080 shares during the last quarter. Wedmont Private Capital raised its position in shares of Automatic Data Processing by 67.9% during the 4th quarter. Wedmont Private Capital now owns 6,292 shares of the business services provider's stock valued at $1,805,000 after buying an additional 2,545 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Automatic Data Processing in the 4th quarter valued at about $2,693,000. Finally, Beaumont Financial Advisors LLC grew its position in Automatic Data Processing by 46.8% in the fourth quarter. Beaumont Financial Advisors LLC now owns 3,239 shares of the business services provider's stock worth $948,000 after acquiring an additional 1,032 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.4%

Shares of NASDAQ:ADP opened at $308.19 on Wednesday. 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 market capitalization of $125.10 billion, a P/E ratio of 32.14, a P/E/G ratio of 3.62 and a beta of 0.76. The business's 50-day moving average is $297.44 and its 200 day moving average is $299.52. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 EPS. Automatic Data Processing's revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed 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. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADP shares. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, UBS Group lifted their price objective on shares of 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 company's stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $303.55.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, 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 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 Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated 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 $2,218,112.80. The trade was a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 in the last ninety days. 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.

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