Goldman Sachs Group Inc. Has $417.58 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Goldman Sachs Group Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,693,476 shares of the business services provider’s stock after buying an additional 46,011 shares during the quarter. Goldman Sachs Group Inc. owned 0.40% of Automatic Data Processing worth $417,578,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Sandy Cove Advisors LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $28,000. Tortoise Investment Management LLC raised its position in shares of Automatic Data Processing by 70.8% during the fourth quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 51 shares during the period. Kozak & Associates Inc. acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $29,000. Delos Wealth Advisors LLC raised its position in shares of Automatic Data Processing by 588.9% during the fourth quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock worth $31,000 after purchasing an additional 106 shares during the period. Finally, Bell Investment Advisors Inc acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $28,000. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

ADP has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on Automatic Data Processing from $203.00 to $234.00 in a research report on Thursday, April 28th. Barclays increased their price target on Automatic Data Processing from $238.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, May 2nd. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 price target for the company in a research report on Wednesday, March 9th. Citigroup increased their price target on Automatic Data Processing from $212.00 to $230.00 in a research report on Monday, May 2nd. Finally, StockNews.com assumed coverage on Automatic Data Processing in a research report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $231.43.

NASDAQ:ADP traded up $1.31 during trading on Friday, reaching $208.79. The company’s stock had a trading volume of 2,390,845 shares, compared to its average volume of 1,959,430. The firm has a market cap of $87.22 billion, a price-to-earnings ratio of 30.84, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a 50 day moving average of $221.59 and a 200-day moving average of $223.01. Automatic Data Processing, Inc. has a 12 month low of $187.29 and a 12 month high of $248.96.

Automatic Data Processing (NASDAQ:ADPGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The business services provider reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.08 by $0.13. The firm had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.45 billion. Automatic Data Processing had a return on equity of 56.01% and a net margin of 17.77%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $4.16 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing’s payout ratio is 61.45%.

In other news, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $214.07, for a total transaction of $66,789.84. Following the completion of the transaction, the vice president now owns 1,663 shares in the company, valued at approximately $355,998.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Deborah L. Dyson sold 2,787 shares of the stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $234.55, for a total value of $653,690.85. Following the sale, the vice president now directly owns 26,663 shares in the company, valued at approximately $6,253,806.65. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company Profile (Get Rating)

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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