Tandem Investment Advisors Inc. Buys 6,338 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tandem Investment Advisors Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,448 shares of the business services provider's stock after purchasing an additional 6,338 shares during the quarter. Automatic Data Processing makes up approximately 1.8% of Tandem Investment Advisors Inc.'s holdings, making the stock its 27th biggest holding. Tandem Investment Advisors Inc.'s holdings in Automatic Data Processing were worth $52,688,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 2,892,660 shares during the last quarter. Norges Bank bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $455,993,000. Winslow Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $396,714,000. Capital Research Global Investors raised its position in Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Automatic Data Processing in the 4th quarter worth approximately $342,942,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Up 1.3%

NASDAQ ADP traded up $3.91 during trading hours on Friday, reaching $308.96. 1,393,190 shares of the company's stock were exchanged, compared to its average volume of 1,714,041. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The company's 50-day moving average is $311.86 and its two-hundred day moving average is $303.33. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year 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 earnings per share (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 the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.88 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

ADP has been the subject of several research reports. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. 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 report on Tuesday, June 17th. Finally, Mizuho raised their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and an average target price of $307.08.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president owned 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company 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.