Pacific Point Advisors LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pacific Point Advisors LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,425 shares of the business services provider’s stock, valued at approximately $1,348,000. Automatic Data Processing comprises about 0.8% of Pacific Point Advisors LLC’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $396,714,000. Capital Research Global Investors lifted its stake in shares of Automatic Data Processing by 26.9% in the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $342,942,000. Finally, Proficio Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after acquiring an additional 1,087,814 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.3%

ADP stock opened at $321.65 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $323.66. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $130.57 billion, a price-to-earnings ratio of 33.54, a PEG ratio of 3.62 and a beta of 0.76. The company has a 50 day moving average of $300.63 and a two-hundred day moving average of $300.90.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The company’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal 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 issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Analyst Ratings Changes

Several research firms recently commented on ADP. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Wall Street Zen lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One investment 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $305.64.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is owned by corporate insiders.

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.