Jackson Thornton Wealth Management LLC Buys Shares of 1,795 Automatic Data Processing, Inc. (NASDAQ:ADP)

Jackson Thornton Wealth Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,795 shares of the business services provider's stock, valued at approximately $527,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. von Borstel & Associates Inc. acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $30,000. Main Street Group LTD lifted its position 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 purchasing an additional 38 shares during the last quarter. Abound Wealth Management grew its stake in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after purchasing an additional 43 shares in the last quarter. Cyrus J. Lawrence LLC increased its holdings 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 last quarter. Finally, Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP opened at $308.96 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a 50-day simple moving average of $312.20 and a 200-day simple moving average of $303.42. The company has a market capitalization of $125.41 billion, a PE ratio of 31.62, a P/E/G ratio of 2.87 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The company 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%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm earned $2.88 EPS. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADP. Morgan Stanley increased their target price 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. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. UBS Group reduced their target price 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. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. 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, Automatic Data Processing has an average rating of "Hold" and an average price target of $307.08.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president directly owned 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

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.

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