Sulzberger Capital Advisors Inc. Invests $482,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sulzberger Capital Advisors Inc. acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,647 shares of the business services provider's stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. Virtu Financial LLC raised its holdings in shares of Automatic Data Processing by 202.7% in the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock worth $1,348,000 after acquiring an additional 3,261 shares during the last quarter. Tudor Financial Inc. purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $310,000. Anchor Investment Management LLC increased its stake in Automatic Data Processing by 7.0% in the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock valued at $4,257,000 after buying an additional 1,001 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its stake in Automatic Data Processing by 3.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock valued at $2,753,000 after buying an additional 337 shares during the last quarter. Finally, World Investment Advisors LLC increased its stake in Automatic Data Processing by 22.6% in the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock valued at $2,066,000 after buying an additional 1,378 shares during the last quarter. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The transaction was disclosed in a legal 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 dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at approximately $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 4,775 shares of company stock valued at $1,447,893. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

ADP has been the subject of several analyst reports. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, April 24th. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Barclays increased their price objective on shares of 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 raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $302.30.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $300.60 on Thursday. The stock has a fifty day moving average of $298.65 and a 200-day moving average of $298.55. The stock has a market cap of $122.48 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. 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 fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share 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. Investors of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Automatic Data Processing Company Profile

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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