Tsfg LLC Buys 149 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Markets Daily

Tsfg LLC lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 372.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189 shares of the business services provider’s stock after purchasing an additional 149 shares during the quarter. Tsfg LLC’s holdings in Automatic Data Processing were worth $58,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Automatic Data Processing by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock valued at $11,923,265,000 after acquiring an additional 277,324 shares in the last quarter. Geode Capital Management LLC lifted its position in Automatic Data Processing by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after acquiring an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its position in Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after acquiring an additional 902,354 shares in the last quarter. Capital Research Global Investors lifted 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 valued at $1,796,415,000 after acquiring an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Automatic Data Processing by 6.0% in the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock valued at $1,137,710,000 after acquiring an additional 219,032 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was 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 owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Up 0.2%

NASDAQ:ADP opened at $303.45 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $123.18 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 3.15 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The business has a fifty day moving average price of $310.53 and a 200-day moving average price of $303.07.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Mizuho increased their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus increased their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $307.08.

View Our Latest Research Report on ADP

Automatic Data Processing Company 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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