Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Lifted by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 119.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,839 shares of the business services provider's stock after purchasing an additional 1,000 shares during the period. Confluence Wealth Services Inc.'s holdings in Automatic Data Processing were worth $540,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Main Street Group LTD grew its holdings in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the period. Cyrus J. Lawrence LLC grew its stake 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 buying an additional 67 shares during the last quarter. Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after acquiring an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the 4th quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $37,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $0.47 on Friday, reaching $303.45. The stock had a trading volume of 1,931,112 shares, compared to its average volume of 1,711,231. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The business's 50-day moving average price is $310.53 and its 200 day moving average price is $303.07. The stock has a market cap of $123.18 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.88 earnings per share. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Insiders Place Their Bets

In related news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on 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. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Finally, UBS Group decreased their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. One research 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 presently has an average rating of "Hold" and an average price target of $307.08.

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.