Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Fiduciary Group LLC

Fiduciary Group LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the first quarter, Holdings Channel reports. The firm owned 13,843 shares of the business services provider’s stock after buying an additional 219 shares during the quarter. Fiduciary Group LLC’s holdings in Automatic Data Processing were worth $4,229,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ADP. GAMMA Investing LLC lifted its position in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after purchasing an additional 2,892,660 shares during the last quarter. Norges Bank purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 26.9% in the fourth 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 acquiring an additional 1,299,390 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $342,942,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. UBS Group decreased their price target on 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. Mizuho lifted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Finally, Morgan Stanley raised their price target 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. One equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $307.08.

Insider Transactions at Automatic Data Processing

In other 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 transaction, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 1.5%

ADP opened at $305.57 on Wednesday. The firm has a market cap of $124.03 billion, a P/E ratio of 31.28, a PEG ratio of 3.20 and a beta of 0.76. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $311.35 and its 200 day simple moving average is $303.23. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate 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%. Automatic Data Processing’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 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.