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

Goldman Sachs Group Inc. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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. owned 0.40% of Automatic Data Processing worth $417,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Jaffetilchin Investment Partners LLC lifted its stake in Automatic Data Processing by 9.4% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 1,194 shares of the business services provider’s stock valued at $294,000 after buying an additional 103 shares during the period. Kingsview Wealth Management LLC lifted its stake in Automatic Data Processing by 0.5% in the fourth quarter. Kingsview Wealth Management LLC now owns 21,217 shares of the business services provider’s stock valued at $5,232,000 after buying an additional 96 shares during the period. IFS Advisors LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $219,000. First Community Trust NA acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $54,000. Finally, Zullo Investment Group Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $396,000. 78.84% of the stock is currently owned by hedge funds and other institutional investors.

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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, June 9th. This represents a $4.16 dividend on an annualized basis and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.45%.

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. Citigroup upped their target price on Automatic Data Processing from $212.00 to $230.00 in a research report on Monday, May 2nd. Cowen lowered their target price on Automatic Data Processing from $235.00 to $213.00 in a research report on Thursday, January 27th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $223.00 target price on the stock in a research report on Wednesday, March 9th. Finally, Morgan Stanley lowered their target price on Automatic Data Processing from $235.00 to $225.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $231.43.

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

Automatic Data Processing 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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