Pacific Point Advisors LLC Invests $1.35 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pacific Point Advisors LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,425 shares of the business services provider's stock, valued at approximately $1,348,000. Automatic Data Processing accounts for 0.8% of Pacific Point Advisors LLC's investment portfolio, making the stock its 27th largest position.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock worth $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC raised its stake in Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after buying an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its holdings in Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock worth $1,807,438,000 after buying an additional 902,354 shares during the period. Capital Research Global Investors boosted its position in Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after acquiring an additional 219,032 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Down 0.1%

Shares of NASDAQ ADP traded down $0.34 during midday trading on Wednesday, hitting $325.38. The stock had a trading volume of 394,539 shares, compared to its average volume of 1,700,400. The business's 50 day moving average is $302.14 and its 200-day moving average is $301.34. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $132.08 billion, a P/E ratio of 33.94, a PEG ratio of 3.62 and a beta of 0.76.

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. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.88 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. 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 payout ratio is 63.05%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Wall Street Zen cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, TD Securities boosted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $305.64.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by insiders.

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.