Syon Capital LLC Boosts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Syon Capital LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,515 shares of the business services provider’s stock after buying an additional 747 shares during the period. Syon Capital LLC’s holdings in Automatic Data Processing were worth $1,052,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the third quarter worth about $25,000. Fortitude Family Office LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $35,000. Raleigh Capital Management Inc. boosted its holdings in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the period. Bfsg LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $42,000. Finally, Carmel Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 43.4% during the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after acquiring an additional 69 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.27 during midday trading on Thursday, reaching $246.34. 1,175,638 shares of the company traded hands, compared to its average volume of 1,796,220. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The firm has a market cap of $101.19 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.32 and a beta of 0.78. The firm’s 50 day simple moving average is $247.01 and its two-hundred day simple moving average is $239.26.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s payout ratio is currently 65.19%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ADP shares. Evercore ISI raised their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Mizuho boosted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock valued at $3,741,859 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.