Consolidated Portfolio Review Corp Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Consolidated Portfolio Review Corp grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 36.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,525 shares of the business services provider’s stock after purchasing an additional 404 shares during the period. Consolidated Portfolio Review Corp’s holdings in Automatic Data Processing were worth $466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock valued at $886,345,000 after buying an additional 2,892,660 shares in the last quarter. Norges Bank purchased a new position in Automatic Data Processing during the 4th quarter valued at about $455,993,000. Winslow Capital Management LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $396,714,000. Capital Research Global Investors grew its holdings in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $342,942,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on ADP shares. TD Securities boosted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. Morgan Stanley lifted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. UBS Group dropped their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $307.08.

Automatic Data Processing Stock Performance

ADP stock opened at $311.40 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a market cap of $126.40 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 3.22 and a beta of 0.79. The stock’s fifty day moving average price is $310.05 and its 200-day moving average price is $303.05.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the company posted $2.88 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 of the company’s stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Company 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.