Oppenheimer & Co. Inc. Acquires 1,609 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Oppenheimer & Co. Inc. raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 39,767 shares of the business services provider's stock after acquiring an additional 1,609 shares during the period. Oppenheimer & Co. Inc.'s holdings in Automatic Data Processing were worth $12,150,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADP. AMG National Trust Bank lifted its position in Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC raised its stake in Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after buying an additional 36 shares during the period. Canton Hathaway LLC lifted its holdings in shares of Automatic Data Processing by 6.7% during the 4th quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock valued at $174,000 after buying an additional 37 shares during the period. Finally, Delta Financial Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.3% in the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock worth $4,266,000 after buying an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred 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 owns 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company's stock, valued at $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. Insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho upped their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research report on Friday, June 13th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Finally, Morgan Stanley increased their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $307.08.

Automatic Data Processing Stock Down 0.2%

NASDAQ ADP opened at $306.26 on Monday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market cap of $124.32 billion, a PE ratio of 31.35, a P/E/G ratio of 3.18 and a beta of 0.79. The stock's 50 day moving average is $309.61 and its 200 day moving average is $302.95.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the business posted $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is currently 63.05%.

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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