PCG Asset Management LLC Invests $284,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

PCG Asset Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, Holdings Channel reports. The firm acquired 970 shares of the business services provider’s stock, valued at approximately $284,000.

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

Insiders Place Their Bets

In other 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 transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $315.18 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $316.46. The company has a fifty day moving average of $300.66 and a 200-day moving average of $292.13. The company has a market capitalization of $128.42 billion, a P/E ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79. 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 (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 1.95%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADP. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their price target 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. Mizuho boosted 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. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given 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 price target of $293.55.

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.