Deseret Mutual Benefit Administrators Has $403,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Deseret Mutual Benefit Administrators increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,320 shares of the business services provider’s stock after acquiring an additional 99 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in Automatic Data Processing were worth $403,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADP. Main Street Group LTD boosted its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC raised its position 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 worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.6%

NASDAQ:ADP opened at $308.40 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The firm has a 50-day moving average price of $311.00 and a two-hundred day moving average price of $303.19. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $125.19 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 earnings per share. On average, equities 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $307.08.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the 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 completion of the transaction, the vice president owned 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.21% of the company’s stock.

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.