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

by · The Cerbat Gem

Consolidated Portfolio Review Corp boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 36.0% in the 1st quarter, HoldingsChannel reports. The firm owned 1,525 shares of the business services provider’s stock after purchasing an additional 404 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Automatic Data Processing were worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its holdings in Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after buying an additional 21,910 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 42.8% in the fourth quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock valued at $1,090,000 after purchasing an additional 1,117 shares in the last quarter. Napatree Capital LLC increased its position in Automatic Data Processing by 2.7% in the fourth quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after purchasing an additional 84 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Automatic Data Processing by 8.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after purchasing an additional 20,467 shares during the last quarter. Finally, Brighton Jones LLC raised its stake in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 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 disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Morgan Stanley raised their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $307.08.

Read Our Latest Research Report on Automatic Data Processing

Automatic Data Processing Stock Performance

ADP stock opened at $311.40 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The firm has a market cap of $126.40 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 3.22 and a beta of 0.79. The business’s fifty day simple moving average is $310.05 and its two-hundred day simple moving average is $303.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51.

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 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the business posted $2.88 earnings per share. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

About Automatic Data Processing

(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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