PFG Investments LLC Buys 6,107 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

PFG Investments LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 209.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,028 shares of the business services provider's stock after purchasing an additional 6,107 shares during the quarter. PFG Investments LLC's holdings in Automatic Data Processing were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the 4th quarter valued at about $35,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at about $39,000. Raleigh Capital Management Inc. boosted its holdings in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider's stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the company's stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the business's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company's stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 in the last ninety days. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a "buy" rating in a research note on Monday, March 11th. Royal Bank of Canada reissued a "sector perform" rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America upgraded Automatic Data Processing from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Wolfe Research upgraded Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research note on Thursday, January 4th. Finally, Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $258.36.

Automatic Data Processing Price Performance

NASDAQ:ADP traded down $3.27 during trading hours on Friday, hitting $243.07. 1,555,489 shares of the stock were exchanged, compared to its average volume of 1,384,926. The firm's fifty day moving average price is $246.70 and its 200 day moving average price is $239.12. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.28 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts' expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 earnings per share. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing's dividend payout ratio is currently 65.19%.

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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