Y Intercept Hong Kong Ltd Has $325,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Y Intercept Hong Kong Ltd reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 83.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,109 shares of the business services provider’s stock after selling 5,504 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Automatic Data Processing were worth $325,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Accredited Investors Inc. boosted its position in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares in the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing in the third quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares in the last quarter. State Street Corp boosted its position in Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after buying an additional 424,328 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after buying an additional 286,080 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the topic of a number of recent analyst reports. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Up 1.1 %

Shares of NASDAQ ADP opened at $318.64 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $320.50. 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 firm has a market capitalization of $129.83 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.62 and a beta of 0.79. The company’s 50 day simple moving average is $301.15 and its 200 day simple moving average is $292.72.

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 the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the transaction, the vice president now directly owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.