Inscription Capital LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Inscription Capital LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,828 shares of the business services provider's stock, valued at approximately $559,000.

Other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in shares of Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after buying an additional 21,910 shares during the period. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock worth $1,090,000 after acquiring an additional 1,117 shares in the last quarter. Napatree Capital LLC increased its position in shares of Automatic Data Processing by 2.7% in the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock valued at $936,000 after purchasing an additional 84 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 16.1% in the 4th quarter. Venturi Wealth Management LLC now owns 7,890 shares of the business services provider's stock valued at $2,310,000 after purchasing an additional 1,092 shares in the last quarter. Finally, Brighton Jones LLC lifted its position in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after purchasing an additional 4,808 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction 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 sale, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, 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. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley increased their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a report on Tuesday. TD Securities boosted 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. Mizuho upped their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, UBS Group cut 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 report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $0.85 on Wednesday, reaching $306.77. The stock had a trading volume of 1,427,194 shares, compared to its average volume of 1,710,825. The stock has a market cap of $124.52 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79. 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 $308.94 and its 200 day moving average price is $302.89. 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 (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.88 EPS. 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. 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.