Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Boosted by NBC Securities Inc.

NBC Securities Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 116,350.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 4,658 shares of the business services provider's stock after acquiring an additional 4,654 shares during the period. NBC Securities Inc.'s holdings in Automatic Data Processing were worth $1,423,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $708,000. CIBC Asset Management Inc raised its stake in Automatic Data Processing by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock worth $45,647,000 after purchasing an additional 2,787 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after purchasing an additional 21,910 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 42.8% in the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider's stock valued at $1,090,000 after purchasing an additional 1,117 shares during the last quarter. Finally, Napatree Capital LLC grew its stake in shares of Automatic Data Processing by 2.7% during the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock valued at $936,000 after buying an additional 84 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.1%

Automatic Data Processing stock traded down $0.32 during midday trading on Wednesday, hitting $326.21. 1,229,917 shares of the stock were exchanged, compared to its average volume of 1,704,466. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $327.99. The firm has a market cap of $132.42 billion, a P/E ratio of 34.02, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50 day moving average price of $304.63 and a two-hundred day moving average price of $302.06.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the prior year, the company posted $2.88 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is currently 63.05%.

Insider Activity

In related news, 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. TD Securities lifted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a report on Wednesday, May 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $305.64.

Automatic Data Processing 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.