Calamos Advisors LLC Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Calamos Advisors LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 99,717 shares of the business services provider's stock after purchasing an additional 1,111 shares during the quarter. Calamos Advisors LLC's holdings in Automatic Data Processing were worth $30,467,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Main Street Group LTD lifted its holdings 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 worth $33,000 after purchasing an additional 38 shares in the last quarter. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings 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 purchasing an additional 67 shares in the last quarter. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing in the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group cut their target price on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Morgan Stanley raised their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday, June 17th. Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $307.08.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $3.91 during mid-day trading on Friday, reaching $308.96. 1,393,190 shares of the company's stock were exchanged, compared to its average volume of 1,713,506. The firm has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day moving average price of $312.20 and a two-hundred day moving average price of $303.53.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.88 EPS. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

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.