Astoria Portfolio Advisors LLC. Has $958,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Astoria Portfolio Advisors LLC. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 112.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,263 shares of the business services provider's stock after purchasing an additional 1,724 shares during the quarter. Astoria Portfolio Advisors LLC.'s holdings in Automatic Data Processing were worth $958,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after buying an additional 1,148 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after acquiring an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after acquiring an additional 1,117 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Automatic Data Processing by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after acquiring an additional 20,467 shares during the last quarter. Finally, Napatree Capital LLC increased its holdings in Automatic Data Processing by 2.7% during the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock valued at $936,000 after purchasing an additional 84 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on ADP shares. UBS Group reduced their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. 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. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday, June 17th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. One investment 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's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing Trading Down 1.6%

NASDAQ:ADP traded down $5.08 during trading hours on Wednesday, hitting $305.05. The stock had a trading volume of 1,327,759 shares, compared to its average volume of 1,711,732. The business's 50 day moving average is $311.35 and its 200-day moving average is $303.23. 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 cap of $123.83 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 2.88 and a beta of 0.76. 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 released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors 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 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing's payout ratio is 63.05%.

Insider Buying and Selling

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company's stock.

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.