Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 148,272 shares of the business services provider's stock after buying an additional 19,039 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Automatic Data Processing were worth $44,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Reston Wealth Management LLC grew its holdings in shares of Automatic Data Processing by 5.7% in the first quarter. Reston Wealth Management LLC now owns 903 shares of the business services provider's stock valued at $276,000 after purchasing an additional 49 shares in the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Automatic Data Processing by 104.9% in the first quarter. Achmea Investment Management B.V. now owns 91,469 shares of the business services provider's stock valued at $27,947,000 after purchasing an additional 46,835 shares in the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Automatic Data Processing by 0.8% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 100,027 shares of the business services provider's stock valued at $30,715,000 after purchasing an additional 771 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of Automatic Data Processing by 2.5% in the first quarter. Transcend Capital Advisors LLC now owns 26,737 shares of the business services provider's stock valued at $8,169,000 after purchasing an additional 645 shares in the last quarter. Finally, Tanager Wealth Management LLP grew its holdings in shares of Automatic Data Processing by 55.8% in the first quarter. Tanager Wealth Management LLP now owns 1,485 shares of the business services provider's stock valued at $456,000 after purchasing an additional 532 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.2%

Automatic Data Processing stock traded up $0.47 during mid-day trading on Friday, hitting $303.45. The company had a trading volume of 1,931,112 shares, compared to its average volume of 1,711,231. The stock has a market cap of $123.18 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.15 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The business has a fifty day moving average of $310.53 and a 200 day moving average of $303.07.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced 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 company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm's revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the firm'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 transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley raised 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 report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $307.08.

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.