Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by CoreCap Advisors LLC

CoreCap Advisors LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1,294.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,724 shares of the business services provider's stock after purchasing an additional 7,170 shares during the period. CoreCap Advisors LLC's holdings in Automatic Data Processing were worth $2,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Automatic Data Processing by 4.5% in the third quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider's stock valued at $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Diversified Trust Co increased its stake in shares of Automatic Data Processing by 0.7% in the 4th quarter. Diversified Trust Co now owns 12,644 shares of the business services provider's stock worth $3,701,000 after acquiring an additional 93 shares during the last quarter. Range Financial Group LLC raised its holdings in shares of Automatic Data Processing by 48.3% during the 4th quarter. Range Financial Group LLC now owns 1,332 shares of the business services provider's stock worth $390,000 after acquiring an additional 434 shares during the period. Innova Wealth Partners acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at about $234,000. Finally, InvesTrust purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $8,650,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.6 %

Shares of ADP stock opened at $305.18 on Thursday. The stock has a market capitalization of $123.88 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $297.68 and a 200 day moving average price of $298.95.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business 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 80.86% and a net margin of 19.76%. The company's revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now owns 7,364 shares of the company's stock, valued at $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 SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,451 shares of company stock worth $743,024. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lifted 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and an average target price of $303.55.

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.

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