Voleon Capital Management LP Invests $3.71 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Voleon Capital Management LP purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,659 shares of the business services provider's stock, valued at approximately $3,706,000.

A number of other large investors have also recently modified their holdings of ADP. AMG National Trust Bank increased its position in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after acquiring an additional 33 shares during the last quarter. Aspiriant LLC increased its holdings in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC increased its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after purchasing an additional 36 shares during the last quarter. Riversedge Advisors LLC raised its position in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after purchasing an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in shares of Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $4.88 during midday trading on Friday, reaching $303.57. 1,720,848 shares of the company traded hands, compared to its average volume of 1,687,165. The stock has a 50-day moving average price of $298.19 and a 200 day moving average price of $298.69. The company has a market cap of $123.69 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business posted $2.88 EPS. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal 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 paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Activity

In other news, VP Christopher D'ambrosio sold 473 shares of the company'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 transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock valued at $1,447,893 over the last three months. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group upped their price target 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. 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 report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Stifel Nicolaus raised 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. Finally, TD Securities boosted their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $303.55.

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.