Detalus Advisors LLC Has $478,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Cerbat Gem

Detalus Advisors LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.4% during the 1st quarter, HoldingsChannel reports. The firm owned 1,566 shares of the business services provider’s stock after purchasing an additional 37 shares during the quarter. Detalus Advisors LLC’s holdings in Automatic Data Processing were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction that occurred 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 owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADP shares. Mizuho boosted their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. 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 report on Thursday, June 5th. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a report on Wednesday, May 21st. Finally, UBS Group lowered their price objective on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $307.08.

Check Out Our Latest Analysis on ADP

Automatic Data Processing Trading Up 0.6%

Shares of ADP opened at $310.13 on Wednesday. The stock’s fifty day simple moving average is $311.35 and its 200-day simple moving average is $303.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $125.89 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were issued a $1.54 dividend. The ex-dividend date was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Automatic Data Processing Profile

(Free Report)

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.

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