Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,031 shares of the business services provider's stock after purchasing an additional 7,080 shares during the quarter. IFM Investors Pty Ltd's holdings in Automatic Data Processing were worth $25,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Main Street Group LTD boosted its stake in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC grew its position in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares during the period. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing in the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $3.91 during trading on Friday, hitting $308.96. 1,393,190 shares of the stock traded hands, compared to its average volume of 1,713,506. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market cap of $125.41 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 2.87 and a beta of 0.76. The company has a fifty day moving average price of $312.20 and a two-hundred day moving average price of $303.53. 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 released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the company earned $2.88 EPS. The firm's revenue for the quarter 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 year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADP shares. Royal Bank Of Canada reiterated 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. TD Securities increased their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. UBS Group decreased their price objective on shares of 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, Morgan Stanley increased their price objective 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 analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $307.08.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president owned 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by company insiders.

About Automatic Data Processing

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.