Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Naples Global Advisors LLC

Naples Global Advisors LLC grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 27.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,503 shares of the business services provider's stock after purchasing an additional 973 shares during the period. Naples Global Advisors LLC's holdings in Automatic Data Processing were worth $1,381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Main Street Group LTD grew its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after buying an additional 67 shares during the period. Banque de Luxembourg S.A. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. TD Securities lifted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $305.64.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were 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 in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 over the last three months. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.0%

Shares of ADP opened at $326.17 on Friday. The company has a 50-day simple moving average of $305.55 and a 200-day simple moving average of $302.43. The firm has a market capitalization of $132.40 billion, a P/E ratio of 34.01, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the business posted $2.88 earnings per share. The company's quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid 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 dividend yield of 1.89%. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

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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