Moss Adams Wealth Advisors LLC Purchases 214 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Moss Adams Wealth Advisors LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,082 shares of the business services provider’s stock after buying an additional 214 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Main Street Group LTD raised its stake in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $318.57 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a 50 day simple moving average of $306.18 and a two-hundred day simple moving average of $302.73. The company has a market capitalization of $129.31 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 3.62 and a beta of 0.79. 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 posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating 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 firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, 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 note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $305.64.

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.