Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,491 shares of the business services provider’s stock after purchasing an additional 127 shares during the period. GHP Investment Advisors Inc.’s holdings in Automatic Data Processing were worth $9,316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Main Street Group LTD boosted its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC raised its holdings in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the last quarter. Abound Wealth Management boosted its position in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after buying an additional 43 shares during the period. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADP. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. UBS Group cut their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. 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. Finally, Stifel Nicolaus upped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $307.08.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction 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 transaction, the vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction dated 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 $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $310.24 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $309.78 and a two-hundred day moving average of $302.99. The company has a market capitalization of $125.93 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 3.18 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued 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. The firm 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 19.79% and a return on equity of 77.33%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period last year, the firm posted $2.88 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors 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 dividend yield of 1.99%. The ex-dividend date of this dividend 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.