Alpine Bank Wealth Management Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alpine Bank Wealth Management purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,993 shares of the business services provider's stock, valued at approximately $1,831,000.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Securities increased their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. UBS Group cut their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Morgan Stanley raised their target price on shares of 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 investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $4.79 during trading on Thursday, hitting $302.98. 2,304,113 shares of the stock were exchanged, compared to its average volume of 1,715,309. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a fifty day moving average price of $310.13 and a 200-day moving average price of $303.01. The stock has a market capitalization of $122.99 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 3.09 and a beta of 0.79. 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 - Get Free Report) last announced its quarterly earnings results 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. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The business's revenue was up 5.7% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.03%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.