Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Amalgamated Bank

Amalgamated Bank lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,604 shares of the business services provider's stock after purchasing an additional 837 shares during the quarter. Amalgamated Bank's holdings in Automatic Data Processing were worth $28,599,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Verity Asset Management Inc. boosted its stake in Automatic Data Processing by 98.2% during the 1st quarter. Verity Asset Management Inc. now owns 2,256 shares of the business services provider's stock valued at $689,000 after purchasing an additional 1,118 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Automatic Data Processing by 3.5% in the first quarter. Avidian Wealth Enterprises LLC now owns 1,460 shares of the business services provider's stock valued at $446,000 after buying an additional 50 shares during the period. Westfuller Advisors LLC bought a new position in Automatic Data Processing during the first quarter valued at about $231,000. Capital Advisors Wealth Management LLC grew its holdings in Automatic Data Processing by 9.5% during the first quarter. Capital Advisors Wealth Management LLC now owns 1,725 shares of the business services provider's stock worth $527,000 after acquiring an additional 150 shares during the period. Finally, Colonial River Investments LLC acquired a new position in Automatic Data Processing during the first quarter worth about $201,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $303.45 on Monday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. 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 market capitalization of $123.18 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 3.15 and a beta of 0.79. The stock's fifty day simple moving average is $310.53 and its 200-day simple moving average is $303.10.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The firm 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 77.33% and a net margin of 19.79%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company posted $2.88 EPS. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.03%. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated 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 directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the 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 transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADP. TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group cut their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Finally, Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $307.08.

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.

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