Parvin Asset Management LLC Purchases New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Parvin Asset Management LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,600 shares of the business services provider's stock, valued at approximately $1,054,000. Automatic Data Processing makes up about 1.1% of Parvin Asset Management LLC's portfolio, making the stock its 20th largest holding.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Automatic Data Processing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after purchasing an additional 277,324 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after buying an additional 65,965 shares during the period. Northern Trust Corp grew its stake in Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after buying an additional 902,354 shares during the last quarter. Capital Research Global Investors raised its holdings in Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Invesco Ltd. lifted its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock worth $1,137,710,000 after acquiring an additional 219,032 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Price Performance

ADP traded up $4.88 during midday trading on Friday, reaching $303.57. 1,720,848 shares of the company's stock were exchanged, compared to its average volume of 1,687,165. The firm has a market capitalization of $123.69 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The business has a 50-day simple moving average of $298.19 and a two-hundred day simple moving average of $298.69.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the firm posted $2.88 EPS. Automatic Data Processing's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ADP shares. TD Securities lifted their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the stock a "hold" rating in a research note on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $303.55.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock worth $1,447,893 in the last quarter. 0.21% of the stock is owned by corporate insiders.

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.