Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Tanager Wealth Management LLP

Tanager Wealth Management LLP boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 55.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,485 shares of the business services provider’s stock after purchasing an additional 532 shares during the period. Tanager Wealth Management LLP’s holdings in Automatic Data Processing were worth $456,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. PDS Planning Inc raised its stake in shares of Automatic Data Processing by 3.8% during the first quarter. PDS Planning Inc now owns 4,530 shares of the business services provider’s stock valued at $1,384,000 after purchasing an additional 164 shares during the period. Nvest Financial LLC increased its stake in Automatic Data Processing by 19.8% during the 1st quarter. Nvest Financial LLC now owns 4,812 shares of the business services provider’s stock worth $1,470,000 after buying an additional 795 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in Automatic Data Processing by 21.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 340,450 shares of the business services provider’s stock worth $104,018,000 after buying an additional 61,123 shares during the period. Pure Financial Advisors LLC lifted its holdings in Automatic Data Processing by 39.8% in the 1st quarter. Pure Financial Advisors LLC now owns 955 shares of the business services provider’s stock worth $292,000 after buying an additional 272 shares in the last quarter. Finally, Phillips Wealth Planners LLC boosted its position in Automatic Data Processing by 10.7% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,318 shares of the business services provider’s stock valued at $395,000 after buying an additional 127 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADP shares. 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, June 13th. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Morgan Stanley upped their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $307.08.

Automatic Data Processing Stock Performance

ADP stock opened at $302.98 on Friday. The stock’s 50 day simple moving average is $310.33 and its 200 day simple moving average is $303.05. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The firm has a market cap of $122.99 billion, a P/E ratio of 31.01, a P/E/G ratio of 3.09 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.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS 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. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were 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. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was 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 currently owned by corporate 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.