Claris Advisors LLC MO Has $344,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Claris Advisors LLC MO grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,127 shares of the business services provider’s stock after purchasing an additional 84 shares during the period. Claris Advisors LLC MO’s holdings in Automatic Data Processing were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. QRG Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 4.0% in the first quarter. QRG Capital Management Inc. now owns 33,660 shares of the business services provider’s stock valued at $10,284,000 after purchasing an additional 1,306 shares during the last quarter. Sentry LLC grew its stake in shares of Automatic Data Processing by 1.5% in the first quarter. Sentry LLC now owns 28,195 shares of the business services provider’s stock valued at $8,614,000 after buying an additional 426 shares in the last quarter. Sagespring Wealth Partners LLC grew its stake in shares of Automatic Data Processing by 13.3% in the first quarter. Sagespring Wealth Partners LLC now owns 7,476 shares of the business services provider’s stock valued at $2,284,000 after buying an additional 875 shares in the last quarter. Precedent Wealth Partners LLC grew its stake in shares of Automatic Data Processing by 21.5% in the first quarter. Precedent Wealth Partners LLC now owns 6,088 shares of the business services provider’s stock valued at $1,860,000 after buying an additional 1,079 shares in the last quarter. Finally, Lorne Steinberg Wealth Management Inc. grew its stake in shares of Automatic Data Processing by 0.9% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 8,564 shares of the business services provider’s stock valued at $2,617,000 after buying an additional 79 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ADP shares. 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 note on Friday, May 2nd. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group decreased their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment 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, the company has an average rating of “Hold” and an average target price of $306.82.

Insider Activity

In other news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were 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 owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business’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 completion of the sale, the vice president now directly 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 disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $306.82 on Monday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a market cap of $124.55 billion, a P/E ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79. The firm’s fifty day moving average price is $308.06 and its two-hundred day moving average price is $302.85. 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 earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion during 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 earnings per share. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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