Field & Main Bank Purchases 52 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Field & Main Bank raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 992 shares of the business services provider’s stock after buying an additional 52 shares during the quarter. Field & Main Bank’s holdings in Automatic Data Processing were worth $303,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in Automatic Data Processing by 34,655.1% during the first quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after acquiring an additional 2,892,660 shares in the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $396,714,000. Capital Research Global Investors increased its position in Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Automatic Data Processing during the fourth quarter valued at $342,942,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADP. TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Stifel Nicolaus increased 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. Mizuho raised their price objective 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, June 13th. Morgan Stanley upped their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 17th. Finally, UBS Group dropped their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $307.08.

Automatic Data Processing Trading Up 0.4%

NASDAQ:ADP opened at $311.40 on Wednesday. The company has a market cap of $126.40 billion, a PE ratio of 31.87, a price-to-earnings-growth ratio of 3.22 and a beta of 0.79. 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 company has a 50 day simple moving average of $310.05 and a two-hundred day simple moving average of $303.05. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was 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 owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.