Cloverfields Capital Group LP Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cloverfields Capital Group LP grew its position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 17.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,243 shares of the business services provider’s stock after acquiring an additional 3,799 shares during the quarter. Automatic Data Processing accounts for 2.3% of Cloverfields Capital Group LP’s portfolio, making the stock its 4th biggest holding. Cloverfields Capital Group LP’s holdings in Automatic Data Processing were worth $5,881,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $35,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $41,000. Raleigh Capital Management Inc. increased its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the last quarter. Bfsg LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $42,000. Finally, Vestor Capital LLC bought a new position in Automatic Data Processing in the 4th quarter valued at $44,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on ADP shares. JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Finally, StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $255.42.

Read Our Latest Research Report on Automatic Data Processing

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $4.01 during midday trading on Friday, hitting $244.92. 2,721,044 shares of the company were exchanged, compared to its average volume of 1,098,280. The firm has a market capitalization of $100.24 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The business has a fifty day simple moving average of $245.93 and a two-hundred day simple moving average of $241.87. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.52 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. 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 2.29%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Automatic Data Processing Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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