Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Unique Wealth LLC

Unique Wealth LLC lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 23.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,880 shares of the business services provider's stock after purchasing an additional 1,328 shares during the period. Unique Wealth LLC's holdings in Automatic Data Processing were worth $2,102,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADP. AMG National Trust Bank raised its position in shares of Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC lifted its stake in shares of Automatic Data Processing by 2.3% in 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. Rehmann Capital Advisory Group lifted its stake in shares of Automatic Data Processing by 1.0% in 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. Canton Hathaway LLC lifted its stake in shares of Automatic Data Processing by 6.7% in the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock worth $174,000 after buying an additional 37 shares during the last quarter. Finally, Delta Financial Advisors LLC lifted its stake in shares of Automatic Data Processing by 0.3% in the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock worth $4,266,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

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

Automatic Data Processing Trading Down 0.0%

Shares of Automatic Data Processing stock opened at $326.17 on Friday. The firm has a market capitalization of $132.40 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company's fifty day moving average price is $305.55 and its two-hundred day moving average price is $302.43. 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 announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.88 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by 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.

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