Running Oak Capital LLC Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Running Oak Capital LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 52,576 shares of the business services provider's stock after acquiring an additional 3,026 shares during the quarter. Automatic Data Processing accounts for 1.9% of Running Oak Capital LLC's portfolio, making the stock its 13th biggest holding. Running Oak Capital LLC's holdings in Automatic Data Processing were worth $16,114,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Main Street Group LTD increased its stake in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management increased its position in Automatic Data Processing by 58.1% in the first 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 in the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ADP. UBS Group reduced their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a report on Friday, June 13th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. Finally, 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 research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $307.08.

Insider Activity

In related news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The shares were 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 directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the 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. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

NASDAQ ADP traded up $0.73 during trading on Monday, hitting $306.99. 436,281 shares of the stock traded hands, compared to its average volume of 1,795,928. The company has a market capitalization of $124.61 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.18 and a beta of 0.79. The firm has a 50-day simple moving average of $309.61 and a 200-day simple moving average of $302.95. 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, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its 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. 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 the consensus estimate of $5.49 billion. During the same period in the prior year, the company earned $2.88 EPS. The company's quarterly revenue was up 5.7% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.

Automatic Data Processing Company 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.