Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Columbus Macro LLC

Columbus Macro LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,878 shares of the business services provider’s stock after acquiring an additional 528 shares during the period. Columbus Macro LLC’s holdings in Automatic Data Processing were worth $6,684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AMG National Trust Bank raised its position in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after acquiring an additional 35 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after acquiring an additional 36 shares during the last quarter. Canton Hathaway LLC increased its position in shares of Automatic Data Processing by 6.7% during the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock worth $174,000 after acquiring an additional 37 shares during the last quarter. Finally, Delta Financial Advisors LLC increased its position in shares of Automatic Data Processing by 0.3% during the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock worth $4,266,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group dropped their target price on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. 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. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $306.82.

Automatic Data Processing Stock Down 0.9%

NASDAQ:ADP opened at $306.82 on Monday. The company has a market capitalization of $124.55 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The stock has a 50-day simple moving average of $308.06 and a 200 day simple moving average of $302.85. 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 issued its 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 return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm posted $2.88 earnings per share. Automatic Data Processing’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s payout ratio is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D’ambrosio sold 478 shares of the business’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 completion of the sale, the vice president now directly 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 insiders.

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.