Farther Finance Advisors LLC Purchases 68 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Farther Finance Advisors LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,993 shares of the business services provider’s stock after buying an additional 68 shares during the quarter. Farther Finance Advisors LLC’s holdings in Automatic Data Processing were worth $3,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares during the period. Angeles Wealth Management LLC increased its position in Automatic Data Processing by 10.3% during the 4th quarter. Angeles Wealth Management LLC now owns 1,562 shares of the business services provider’s stock valued at $457,000 after purchasing an additional 146 shares during the period. Savant Capital LLC increased its position in Automatic Data Processing by 5.6% during the 4th quarter. Savant Capital LLC now owns 11,191 shares of the business services provider’s stock valued at $3,276,000 after purchasing an additional 597 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the 4th quarter valued at $37,000. Finally, Soltis Investment Advisors LLC increased its position in Automatic Data Processing by 2.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,983 shares of the business services provider’s stock valued at $873,000 after purchasing an additional 70 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s 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 transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, 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. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $305.64.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $314.52 on Wednesday. The stock has a market cap of $127.67 billion, a price-to-earnings ratio of 32.80, a PEG ratio of 3.62 and a beta of 0.79. The firm’s 50-day moving average is $306.37 and its 200 day moving average is $302.82. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) 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 analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

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.