Goldman Sachs Group Inc. Purchases 46,011 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Goldman Sachs Group Inc. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,693,476 shares of the business services provider’s stock after acquiring an additional 46,011 shares during the period. Goldman Sachs Group Inc.’s holdings in Automatic Data Processing were worth $417,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sandy Cove Advisors LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $28,000. Tortoise Investment Management LLC boosted 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 valued at $30,000 after purchasing an additional 51 shares in the last quarter. Kozak & Associates Inc. bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $29,000. Delos Wealth Advisors LLC boosted 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 valued at $31,000 after purchasing an additional 106 shares in the last quarter. Finally, Bell Investment Advisors Inc bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $28,000. Institutional investors own 78.84% of the company’s stock.

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 312 shares of the business’s stock in a transaction dated 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 sale, the vice president now owns 1,663 shares of the company’s stock, valued at $355,998.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Deborah L. Dyson sold 2,787 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were 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 of the company’s stock, valued at approximately $6,253,806.65. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

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

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

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

ADP has been the subject of a number of recent research reports. Barclays lifted their price objective on Automatic Data Processing from $238.00 to $257.00 and gave the company an “overweight” rating in a research note on Monday, May 2nd. Cowen lowered their price objective on Automatic Data Processing from $235.00 to $213.00 in a research note on Thursday, January 27th. Mizuho lifted their price objective on Automatic Data Processing from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Automatic Data Processing from $203.00 to $234.00 in a research note on Thursday, April 28th. Finally, Citigroup lifted their price objective on Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. One research 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. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $231.43.

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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