Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lifted by GAM Holding AG

GAM Holding AG boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 110.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,326 shares of the business services provider's stock after purchasing an additional 10,123 shares during the period. GAM Holding AG's holdings in Automatic Data Processing were worth $5,905,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares during the period. Cyrus J. Lawrence LLC raised its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares during the period. Abound Wealth Management raised its stake in Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock valued at $36,000 after buying an additional 43 shares during the period. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $37,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Down 0.2%

Shares of NASDAQ:ADP traded down $0.51 during trading hours on Friday, hitting $306.26. The company's stock had a trading volume of 3,637,760 shares, compared to its average volume of 1,715,238. 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 company has a market capitalization of $124.32 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 3.18 and a beta of 0.79. The firm's fifty day moving average price is $309.61 and its 200 day moving average price is $302.94.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 EPS. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. TD Securities increased their target price on 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 increased their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Morgan Stanley raised their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday, June 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, UBS Group reduced 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $307.08.

Automatic Data Processing 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.