Retirement Guys Formula LLC Invests $911,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Retirement Guys Formula LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,983 shares of the business services provider's stock, valued at approximately $911,000.

Several other hedge funds have also bought and sold shares of ADP. Toronto Dominion Bank increased its stake in shares of Automatic Data Processing by 10.2% in the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after purchasing an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in 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 worth $1,090,000 after buying an additional 1,117 shares during the period. Napatree Capital LLC increased its stake in Automatic Data Processing by 2.7% in the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider's stock worth $936,000 after buying an additional 84 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock valued at $76,638,000 after acquiring an additional 20,467 shares during the period. Finally, Brighton Jones LLC raised its holdings in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after acquiring an additional 4,808 shares during the period. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Up 1.3%

Shares of NASDAQ ADP opened at $310.24 on Tuesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The business's 50 day moving average is $309.78 and its two-hundred day moving average is $302.99. The stock has a market capitalization of $125.93 billion, a P/E ratio of 31.75, a PEG ratio of 3.18 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company 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 $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business'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 completion of the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares in the company, valued at approximately $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. Insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Mizuho increased their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley lifted their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research report on Tuesday, June 17th. UBS Group lowered their target price 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. Stifel Nicolaus raised their price objective on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $307.08.

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.

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