Simplicity Wealth LLC Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Simplicity Wealth LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 151.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,131 shares of the business services provider's stock after buying an additional 5,497 shares during the period. Simplicity Wealth LLC's holdings in Automatic Data Processing were worth $2,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. AMG National Trust Bank raised its holdings in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Sentinus LLC increased its position in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Automatic Data Processing by 1.0% in the fourth 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 position 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 last quarter. Finally, Delta Financial Advisors LLC grew its stake in shares of Automatic Data Processing by 0.3% during the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock worth $4,266,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price 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 reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, TD Securities raised 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $305.64.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $4.05 on Tuesday, hitting $314.52. The stock had a trading volume of 1,422,021 shares, compared to its average volume of 1,706,105. The firm has a 50-day moving average of $306.18 and a 200-day moving average of $302.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a market capitalization of $127.67 billion, a price-to-earnings ratio of 32.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate 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 revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 earnings per share. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Insider Buying and Selling

In related news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction on Thursday, April 10th. The shares were 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, 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 position. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

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.