9,200 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by FNY Investment Advisers LLC

FNY Investment Advisers LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 9,200 shares of the business services provider’s stock, valued at approximately $2,693,000. Automatic Data Processing comprises approximately 1.4% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 16th largest position.

A number of other hedge funds also recently made changes to their positions in ADP. Accredited Investors Inc. grew its holdings in Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC boosted its position in Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after buying an additional 1,190,407 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased 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 acquiring an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,062 shares of company stock worth $12,299,550. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 1.2 %

Shares of NASDAQ ADP opened at $290.20 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a market cap of $118.24 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $298.47 and its 200 day simple moving average is $278.98.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is 65.74%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADP. Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, UBS Group upped their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.