D.A. Davidson & CO. Has $80.31 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

D.A. Davidson & CO. lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,858 shares of the business services provider's stock after purchasing an additional 2,615 shares during the period. Automatic Data Processing makes up 0.6% of D.A. Davidson & CO.'s investment portfolio, making the stock its 29th largest holding. D.A. Davidson & CO. owned 0.06% of Automatic Data Processing worth $80,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADP. AMG National Trust Bank boosted its holdings 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 worth $3,318,000 after buying an additional 33 shares during the period. Sentinus LLC increased its position 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 acquiring an additional 35 shares in the last quarter. Rehmann Capital Advisory Group increased its position 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 acquiring an additional 36 shares in the last quarter. Detalus Advisors LLC increased its position in shares of Automatic Data Processing by 2.4% in the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after acquiring an additional 37 shares in the last quarter. Finally, Main Street Group LTD increased its position in shares of Automatic Data Processing by 50.7% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction on Thursday, April 10th. The shares were 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 directly owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ADP. Mizuho lifted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities boosted 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. UBS Group lowered their price objective 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. Finally, Morgan Stanley boosted 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 research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $3.91 on Friday, reaching $308.96. The stock had a trading volume of 1,393,190 shares, compared to its average volume of 1,713,506. The business's 50-day moving average price is $312.20 and its two-hundred day moving average price is $303.42. 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 fifty-two week low of $231.27 and a fifty-two week high of $329.93. The stock has a market cap of $125.41 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 2.87 and a beta of 0.76.

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 for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the company earned $2.88 earnings per share. Automatic Data Processing's revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business 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. This represents a $6.16 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, June 13th. Automatic Data Processing's payout ratio is currently 63.05%.

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.