M1 Capital Management LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

M1 Capital Management LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,308 shares of the business services provider's stock, valued at approximately $383,000.

Several other hedge funds have also recently modified their holdings of ADP. Norges Bank purchased a new position in Automatic Data Processing during the 4th quarter valued at about $455,993,000. Winslow Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $396,714,000. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $342,942,000. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock worth $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $0.02 during mid-day trading on Thursday, hitting $324.12. 921,682 shares of the stock were exchanged, compared to its average volume of 1,701,614. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $131.57 billion, a P/E ratio of 33.80, a PEG ratio of 3.62 and a beta of 0.76. The stock's fifty day simple moving average is $303.22 and its two-hundred day simple moving average is $301.62. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $327.99.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business'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 earnings per share. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.90%. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction that occurred 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 sale, the vice president now owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADP shares. Wall Street Zen lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. TD Securities increased 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. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. Finally, Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $305.64.

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.