PKO Investment Management Joint Stock Co Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

PKO Investment Management Joint Stock Co acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 8,000 shares of the business services provider's stock, valued at approximately $2,444,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Main Street Group LTD boosted its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC boosted its holdings in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after acquiring an additional 67 shares during the last quarter. Abound Wealth Management boosted its holdings in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Activity

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 stock was sold at an average price of $293.14, for a total value 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. This trade represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now 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 own 0.21% of the company's stock.

Automatic Data Processing Stock Down 0.3%

NASDAQ ADP traded down $0.85 on Wednesday, reaching $306.77. The company had a trading volume of 1,427,194 shares, compared to its average volume of 1,713,648. The stock has a market capitalization of $124.52 billion, a P/E ratio of 31.40, a P/E/G ratio of 3.19 and a beta of 0.79. The company's fifty day moving average is $308.94 and its 200 day moving average is $302.89. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week 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.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.88 EPS. Sell-side analysts anticipate 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. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ADP shares. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Mizuho increased their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Morgan Stanley increased their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, UBS Group lowered their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $307.08.

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.