Orion Capital Management LLC Invests $73,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Orion Capital Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, Holdings Channel reports. The fund acquired 250 shares of the business services provider’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds also recently modified their holdings of ADP. Norges Bank acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $455,993,000. Winslow Capital Management LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors boosted its position in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $342,942,000. Finally, Proficio Capital Partners LLC boosted its position in Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,451 shares of company stock worth $743,024. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $322.63 on Thursday. The firm has a market cap of $130.96 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $323.66. The business’s 50 day moving average is $300.13 and its 200-day moving average is $300.69.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.91%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ADP. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. UBS Group raised their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $305.64.

Automatic Data Processing Company 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.