2,627 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by Milestone Asset Management Group LLC

Milestone Asset Management Group LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,627 shares of the business services provider's stock, valued at approximately $769,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Brighton Jones LLC increased its position in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,808 shares during the period. KBC Group NV increased its holdings in shares of Automatic Data Processing by 8.7% in the 4th quarter. KBC Group NV now owns 90,423 shares of the business services provider's stock valued at $26,469,000 after acquiring an additional 7,210 shares during the period. Stonegate Investment Group LLC raised its position in Automatic Data Processing by 49.5% in the 4th quarter. Stonegate Investment Group LLC now owns 2,266 shares of the business services provider's stock valued at $663,000 after purchasing an additional 750 shares during the last quarter. BSW Wealth Partners boosted its stake in Automatic Data Processing by 2.9% during the 4th quarter. BSW Wealth Partners now owns 3,721 shares of the business services provider's stock worth $1,089,000 after purchasing an additional 104 shares during the period. Finally, R Squared Ltd acquired a new stake in Automatic Data Processing during the 4th quarter worth $158,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Price Performance

ADP traded up $1.10 on Friday, hitting $325.22. 2,925,042 shares of the company were exchanged, compared to its average volume of 1,707,128. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $327.99. 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 firm has a market capitalization of $132.01 billion, a P/E ratio of 33.91, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The business's fifty day moving average is $303.74 and its 200 day moving average is $301.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the firm posted $2.88 earnings per share. Automatic Data Processing's revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate 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 issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.89%. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADP shares. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $305.64.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 over the last quarter. Corporate insiders own 0.21% of the company's stock.

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.