Baker Tilly Wealth Management LLC Purchases 143 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Baker Tilly Wealth Management LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,368 shares of the business services provider’s stock after acquiring an additional 143 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Automatic Data Processing were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in ADP. GAMMA Investing LLC boosted its position in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $396,714,000. Capital Research Global Investors boosted its position in Automatic Data Processing by 26.9% in 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 buying an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $342,942,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of research analyst reports. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Barclays raised 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 report on Monday, February 3rd. Wall Street Zen lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, May 1st. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $305.64.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

ADP stock opened at $325.80 on Tuesday. The company has a fifty day moving average price of $304.21 and a 200-day moving average price of $301.89. The company has a market capitalization of $132.25 billion, a P/E ratio of 33.97, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $327.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

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. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter last year, the firm earned $2.88 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

About Automatic Data Processing

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.