Automatic Data Processing, Inc. (NASDAQ:ADP) is Rowlandmiller & PARTNERS.ADV's 4th Largest Position

Rowlandmiller & PARTNERS.ADV decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,530 shares of the business services provider's stock after selling 904 shares during the period. Automatic Data Processing accounts for 4.0% of Rowlandmiller & PARTNERS.ADV's investment portfolio, making the stock its 4th biggest holding. Rowlandmiller & PARTNERS.ADV's holdings in Automatic Data Processing were worth $18,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in 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 valued at $886,345,000 after acquiring an additional 2,892,660 shares during the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors grew its holdings in Automatic Data Processing by 26.9% during 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 purchasing an additional 1,299,390 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth $342,942,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $305.64.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $2.57 during midday trading on Thursday, hitting $309.80. 716,570 shares of the company's stock were exchanged, compared to its average volume of 1,779,115. The company has a market cap of $125.75 billion, a P/E ratio of 32.30, a PEG ratio of 3.62 and a beta of 0.79. 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 stock has a 50-day moving average price of $306.89 and a two-hundred day moving average price of $302.88. 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 - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $5.55 billion during 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%. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 of the company's stock, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of the business's 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 completion of the sale, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. 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.