Automatic Data Processing (NASDAQ:ADP) Shares Purchased by National Asset Management Inc.

National Asset Management Inc. lifted its stake in Automatic Data Processing (NASDAQ:ADP) by 23.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,233 shares of the business services provider’s stock after purchasing an additional 2,133 shares during the quarter. National Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,536,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Staley Capital Advisers Inc. acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $220,000. Front Row Advisors LLC increased its stake in Automatic Data Processing by 118.9% during the first quarter. Front Row Advisors LLC now owns 267 shares of the business services provider’s stock worth $39,000 after acquiring an additional 145 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Automatic Data Processing by 34.3% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 22,571 shares of the business services provider’s stock worth $3,085,000 after acquiring an additional 5,764 shares during the last quarter. AGF Investments Inc. acquired a new stake in Automatic Data Processing during the first quarter worth $248,000. Finally, Quadrant Private Wealth Management LLC acquired a new stake in Automatic Data Processing during the first quarter worth $210,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

In other Automatic Data Processing news, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $140.23, for a total value of $35,057.50. Following the completion of the transaction, the vice president now directly owns 5,412 shares of the company’s stock, valued at $758,924.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.31% of the stock is owned by insiders.

Several equities research analysts have issued reports on ADP shares. Credit Suisse Group reissued a “buy” rating and set a $190.00 target price on shares of Automatic Data Processing in a research note on Sunday, February 2nd. Wedbush reissued a “neutral” rating on shares of Automatic Data Processing in a research note on Wednesday, April 29th. Stifel Nicolaus raised their target price on Automatic Data Processing from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Citigroup lowered their price target on Automatic Data Processing from $185.00 to $140.00 and set a “neutral” rating for the company in a research report on Tuesday, April 14th. Finally, BMO Capital Markets lowered their price target on Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating for the company in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $166.50.

Shares of NASDAQ ADP traded up $0.46 during mid-day trading on Friday, reaching $133.78. 704,967 shares of the company traded hands, compared to its average volume of 2,525,512. Automatic Data Processing has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $57.92 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84. The stock has a fifty day simple moving average of $139.09 and a 200-day simple moving average of $158.43.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.92. The company had revenue of $4.05 billion during the quarter, compared to analyst estimates of $4.03 billion. Automatic Data Processing had a net margin of 17.20% and a return on equity of 47.51%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.77 EPS. As a group, analysts predict that Automatic Data Processing will post 5.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.64 annualized dividend and a dividend yield of 2.72%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 66.79%.

About Automatic Data Processing

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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