Wesleyan Assurance Society bought a new stake in Automatic Data Processing (NASDAQ:ADP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,200 shares of the business services provider’s stock, valued at approximately $1,630,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaMark Advisors LLC lifted its position in shares of Automatic Data Processing by 319.1% during the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after buying an additional 150 shares during the period. Lake Point Wealth Management bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $26,000. Horan Capital Advisors LLC. bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $31,000. Paragon Capital Management LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $32,000. Finally, C J Advisory Inc bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $32,000. 79.79% of the stock is currently owned by hedge funds and other institutional investors.

ADP has been the subject of several analyst reports. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research report on Thursday, May 9th. Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Citigroup boosted their target price on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Barclays lifted their price objective on Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and an average target price of $159.92.

In other news, VP Donald Weinstein sold 1,706 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total value of $281,507.06. Following the sale, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the sale, the insider now owns 77,595 shares in the company, valued at $12,803,175. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,456 shares of company stock valued at $5,010,669. Insiders own 0.33% of the company’s stock.

NASDAQ:ADP traded up $0.07 on Wednesday, reaching $165.18. The company’s stock had a trading volume of 46,398 shares, compared to its average volume of 1,894,200. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $168.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The stock has a market cap of $71.94 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 2.36 and a beta of 0.92.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that Automatic Data Processing will post 5.44 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a yield of 1.91%. Automatic Data Processing’s payout ratio is 72.64%.

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Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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