Biltmore Family Office LLC Acquires 1,700 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Biltmore Family Office LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.5%, now holding 15,268 shares valued at approximately $4.7 million.
• Several institutional investors significantly boosted their positions in ADP, with GAMMA Investing LLC increasing its stake by an extraordinary 34,655.1%.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, with a payment date set for October 1st, reflecting an annualized dividend yield of 2.0%.

Biltmore Family Office LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,268 shares of the business services provider's stock after acquiring an additional 1,700 shares during the quarter. Automatic Data Processing makes up 0.8% of Biltmore Family Office LLC's portfolio, making the stock its 22nd biggest position. Biltmore Family Office LLC's holdings in Automatic Data Processing were worth $4,686,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Sentinus LLC lifted its holdings in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its holdings in shares of Automatic Data Processing by 4.7% during the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock worth $238,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after buying an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its holdings in shares of Automatic Data Processing by 2.4% during the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after buying an additional 37 shares during the last quarter. Finally, Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $4.09 on Tuesday, reaching $299.63. The company's stock had a trading volume of 1,280,014 shares, compared to its average volume of 1,490,098. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $121.36 billion, a price-to-earnings ratio of 30.02, a PEG ratio of 2.79 and a beta of 0.81. The business's fifty day moving average price is $307.69 and its 200 day moving average price is $305.58. Automatic Data Processing, Inc. has a twelve month low of $259.08 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.1%. Automatic Data Processing's payout ratio is currently 61.72%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ADP. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research report on Thursday, July 10th. 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 report on Thursday, June 5th. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research report on Thursday, July 31st. Finally, TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $314.33.

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.