Two Sigma Advisers LP Takes Position in Automatic Data Processing (ADP)

Two Sigma Advisers LP acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 455,432 shares of the business services provider’s stock, valued at approximately $53,372,000. Two Sigma Advisers LP owned about 0.10% of Automatic Data Processing at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Legacy Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter valued at about $103,000. Truewealth LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $104,000. Calton & Associates Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $118,000. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $117,000. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Automatic Data Processing in the third quarter worth approximately $114,000. Hedge funds and other institutional investors own 78.53% of the company’s stock.

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ADP has been the topic of several analyst reports. Goldman Sachs raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $116.02 to $135.00 in a research report on Monday, December 11th. Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a report on Thursday, February 1st. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a research note on Monday, February 5th. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Citigroup reissued a “neutral” rating and issued a $118.00 price target (up previously from $110.00) on shares of Automatic Data Processing in a research report on Friday, January 12th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Automatic Data Processing has an average rating of “Hold” and a consensus price target of $120.29.

Shares of NASDAQ:ADP opened at $113.70 on Friday. The firm has a market capitalization of $51,738.44, a PE ratio of 30.73, a PEG ratio of 2.56 and a beta of 0.88. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the company earned $0.87 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 4.14 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Friday, March 9th were paid a $0.63 dividend. The ex-dividend date was Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.22%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 68.11%.

In other Automatic Data Processing news, VP Donald Weinstein sold 3,242 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the transaction, the vice president now owns 28,366 shares of the company’s stock, valued at approximately $3,545,750. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total value of $7,848,958.71. Following the transaction, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at approximately $18,088,234.65. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 112,047 shares of company stock valued at $12,966,391. 0.25% of the stock is currently owned by company insiders.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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