Alpine Bank Wealth Management Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alpine Bank Wealth Management bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 1st quarter, Holdings Channel reports. The institutional investor bought 5,993 shares of the business services provider’s stock, valued at approximately $1,831,000.

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

Automatic Data Processing Price Performance

Shares of ADP opened at $311.40 on Wednesday. The company has a market cap of $126.40 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 3.22 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company’s fifty day simple moving average is $310.05 and its 200 day simple moving average is $303.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

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 business had revenue of $5.55 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $2.88 earnings per share. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company 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 dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing’s payout ratio is 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing 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. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. UBS Group lowered 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 report on Friday, June 13th. Finally, TD Securities lifted their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $307.08.

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.