Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Horizon Investments LLC

Horizon Investments LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,248 shares of the business services provider’s stock after acquiring an additional 177 shares during the period. Horizon Investments LLC’s holdings in Automatic Data Processing were worth $2,122,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $342,942,000. Proficio Capital Partners LLC lifted its position in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Automatic Data Processing during the third quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares during the last quarter. Finally, Amundi lifted its position in shares of Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after purchasing an additional 449,431 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP opened at $295.93 on Wednesday. The business’s 50 day moving average is $302.66 and its 200-day moving average is $295.04. The stock has a market cap of $120.58 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. 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 twelve month low of $231.27 and a twelve month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released 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%. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $296.18.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on 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 in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 over the last quarter. 0.21% of the stock is currently owned by company insiders.

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.