Spring Capital Management LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Spring Capital Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,146 shares of the business services provider’s stock after acquiring an additional 872 shares during the period. Automatic Data Processing accounts for approximately 3.7% of Spring Capital Management LLC’s portfolio, making the stock its 11th biggest position. Spring Capital Management LLC’s holdings in Automatic Data Processing were worth $6,190,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $27,044,000. Edgestream Partners L.P. raised its holdings in shares of Automatic Data Processing by 237.6% in the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 4,735 shares during the last quarter. Waterloo Capital L.P. increased its position in Automatic Data Processing by 10.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider’s stock valued at $252,000 after acquiring an additional 98 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Automatic Data Processing during the second quarter worth approximately $314,000. Finally, XTX Topco Ltd purchased a new position in Automatic Data Processing during the 2nd quarter worth $1,032,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.0 %

ADP stock opened at $296.18 on Friday. The firm’s 50-day simple moving average is $298.07 and its 200 day simple moving average is $279.57. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The stock has a market cap of $120.68 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date 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 currently 65.74%.

Analysts Set New Price Targets

ADP has been the topic of a number of recent analyst reports. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two equities research 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’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing 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.