Tounjian Advisory Partners LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tounjian Advisory Partners LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,584 shares of the business services provider's stock, valued at approximately $1,095,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Automatic Data Processing by 92.1% in the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Consolidated Portfolio Review Corp grew its position in Automatic Data Processing by 50.1% in the fourth quarter. Consolidated Portfolio Review Corp now owns 1,121 shares of the business services provider's stock worth $328,000 after buying an additional 374 shares during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $128,000. Apollon Wealth Management LLC boosted its stake in shares of Automatic Data Processing by 2.4% during the 4th quarter. Apollon Wealth Management LLC now owns 13,930 shares of the business services provider's stock worth $4,078,000 after acquiring an additional 321 shares in the last quarter. Finally, Stephens Inc. AR raised its position in shares of Automatic Data Processing by 0.4% during the fourth quarter. Stephens Inc. AR now owns 26,983 shares of the business services provider's stock worth $7,899,000 after purchasing an additional 103 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the firm'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 sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the business'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 transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADP shares. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report 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 research note on Thursday. Finally, TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $305.64.

Automatic Data Processing Trading Up 0.2%

NASDAQ ADP opened at $326.81 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The firm's fifty day simple moving average is $305.96 and its 200-day simple moving average is $302.64. The company has a market capitalization of $132.66 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business's revenue was up 5.7% compared to the same quarter last year. During the same period last year, the company earned $2.88 earnings per share. As a group, 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid 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 yield of 1.88%. Automatic Data Processing's payout ratio is presently 63.05%.

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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