Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Amalgamated Bank

Amalgamated Bank boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 92,767 shares of the business services provider’s stock after buying an additional 4,756 shares during the period. Amalgamated Bank’s holdings in Automatic Data Processing were worth $27,156,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC grew its holdings in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 in the last quarter. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $312.20 on Tuesday. The stock has a market capitalization of $127.21 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $314.06. The company’s 50-day simple moving average is $299.03 and its 200-day simple moving average is $290.89. 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 (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Wall Street Analyst Weigh In

ADP has been the topic of several recent analyst reports. 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 report on Monday, February 3rd. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $293.55.

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.