Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 173,353 shares of the business services provider’s stock after purchasing an additional 36 shares during the period. Gateway Investment Advisers LLC’s holdings in Automatic Data Processing were worth $52,965,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Main Street Group LTD grew 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 during the last quarter. Cyrus J. Lawrence LLC lifted its stake in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 shares during the last quarter. Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing in the fourth quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing in the fourth quarter worth approximately $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ADP. Stifel Nicolaus increased their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. TD Securities increased their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $305.64.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $326.81 on Friday. The company has a market capitalization of $132.66 billion, a price-to-earnings ratio of 34.08, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $305.96 and its 200-day simple moving average is $302.63.

Automatic Data Processing (NASDAQ:ADP) last released 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 analysts’ expectations 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 for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 EPS. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given 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 63.05%.

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $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. Insiders sold a total of 2,451 shares of company stock worth $743,024 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

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.