Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 13.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,495 shares of the business services provider's stock after acquiring an additional 1,148 shares during the quarter. GAMMA Investing LLC's holdings in Automatic Data Processing were worth $2,901,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AMG National Trust Bank raised its position 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 acquiring an additional 33 shares during the period. Sentinus LLC increased its stake in shares of Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Rehmann Capital Advisory Group raised its holdings in Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares during the period. Main Street Group LTD boosted its position in 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 purchasing an additional 38 shares in the last quarter. Finally, Howard Financial Services LTD. grew its holdings in Automatic Data Processing by 2.2% in the first quarter. Howard Financial Services LTD. now owns 1,735 shares of the business services provider's stock valued at $530,000 after purchasing an additional 38 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.73 during trading hours on Tuesday, reaching $310.13. The company had a trading volume of 1,496,554 shares, compared to its average volume of 1,711,533. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. 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 capitalization of $125.89 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 3.20 and a beta of 0.76. The stock has a fifty day moving average of $311.35 and a 200-day moving average of $303.23.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the business earned $2.88 EPS. The firm's quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company 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 dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities lifted 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 report on Wednesday, May 21st. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Mizuho raised their price target on shares of 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, Stifel Nicolaus boosted their price objective on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. 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. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $307.08.

Insider Buying and Selling

In other news, VP Christopher D'ambrosio sold 478 shares of the 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 sale, the vice president owned 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.21% of the stock is owned by company insiders.

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.