Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Tandem Investment Advisors Inc.

Tandem Investment Advisors Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 172,448 shares of the business services provider’s stock after purchasing an additional 6,338 shares during the quarter. Automatic Data Processing accounts for 1.8% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 27th largest position. Tandem Investment Advisors Inc.’s holdings in Automatic Data Processing were worth $52,688,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. AMG National Trust Bank lifted its position 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 acquiring an additional 33 shares in the last quarter. Sentinus LLC lifted its position 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 acquiring an additional 35 shares in the last quarter. Rehmann Capital Advisory Group lifted its position 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 acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC grew its stake in Automatic Data Processing by 2.4% during the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock valued at $478,000 after purchasing an additional 37 shares in the last quarter. Finally, Main Street Group LTD grew its stake in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president directly owned 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP stock opened at $305.05 on Thursday. The stock’s fifty day moving average is $311.57 and its two-hundred day moving average is $303.25. The stock has a market capitalization of $123.83 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 2.88 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $2.88 earnings per share. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADP shares. Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note 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. Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. 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. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $307.08.

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.