Tealwood Asset Management Inc. Acquires 124 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tealwood Asset Management Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,484 shares of the business services provider’s stock after acquiring an additional 124 shares during the quarter. Automatic Data Processing comprises 1.1% of Tealwood Asset Management Inc.’s portfolio, making the stock its 22nd largest position. Tealwood Asset Management Inc.’s holdings in Automatic Data Processing were worth $2,776,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Accredited Investors Inc. boosted its position in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC raised its stake in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares during the period. Holocene Advisors LP bought a new position in Automatic Data Processing during the third quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 acquiring an additional 479,145 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in shares of Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Up 1.2 %

Automatic Data Processing stock opened at $290.20 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $118.24 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.50 and a beta of 0.79. The firm has a 50 day moving average price of $298.47 and a two-hundred day moving average price of $278.98. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,062 shares of company stock worth $12,299,550. 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.