Silver Oak Securities Incorporated Has $818,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Silver Oak Securities Incorporated boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 72.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,793 shares of the business services provider’s stock after acquiring an additional 1,169 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Automatic Data Processing were worth $818,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Moloney Securities Asset Management LLC purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $209,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $470,000. Dash Acquisitions Inc. lifted its holdings in Automatic Data Processing by 5.6% during the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after acquiring an additional 2,781 shares during the period. Finally, DRW Securities LLC purchased a new position in Automatic Data Processing in the third quarter worth $951,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 in the last three months. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADP shares. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Down 1.0 %

NASDAQ:ADP opened at $305.97 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The stock’s fifty day moving average price is $297.21 and its two-hundred day moving average price is $285.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $124.67 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.52 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.