State of Alaska Department of Revenue Acquires 1,210 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

State of Alaska Department of Revenue grew its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 47,675 shares of the business services provider's stock after acquiring an additional 1,210 shares during the period. State of Alaska Department of Revenue's holdings in Automatic Data Processing were worth $14,566,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC increased its position in shares of 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 worth $2,935,000 after buying an additional 4,808 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Automatic Data Processing by 16.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 41,150 shares of the business services provider's stock worth $11,919,000 after buying an additional 5,803 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $957,000. Principal Securities Inc. increased its position in shares of Automatic Data Processing by 19.6% during the fourth quarter. Principal Securities Inc. now owns 7,041 shares of the business services provider's stock worth $2,061,000 after buying an additional 1,156 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of Automatic Data Processing by 0.4% during the fourth quarter. D.A. Davidson & CO. now owns 260,243 shares of the business services provider's stock worth $76,181,000 after buying an additional 1,047 shares during the period. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the company's stock in a transaction dated 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 sale, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company'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 of the company's stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Down 0.1%

NASDAQ:ADP opened at $307.62 on Wednesday. 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 firm has a 50-day moving average of $308.94 and a 200-day moving average of $302.89. The company has a market cap of $124.87 billion, a PE ratio of 31.49, a PEG ratio of 3.20 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year 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, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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 given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is presently 63.05%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an "equal weight" rating in a research note on Tuesday. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.

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