Waverly Advisors LLC Purchases 5,496 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Waverly Advisors LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 84.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,001 shares of the business services provider's stock after buying an additional 5,496 shares during the quarter. Waverly Advisors LLC's holdings in Automatic Data Processing were worth $3,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings 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 increased its stake in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ADP shares. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group increased 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. 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given 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 $305.64.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, 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 completion of the sale, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company's stock, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,451 shares of company stock valued at $743,024. Insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Down 0.1%

Shares of Automatic Data Processing stock opened at $322.63 on Thursday. The firm has a market cap of $130.96 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.62 and a beta of 0.76. The business has a 50-day moving average price of $300.13 and a 200-day moving average price of $300.69. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $323.66.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly 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 net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter last year, the firm earned $2.88 EPS. The firm's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.