Burleson & Company LLC Takes $66,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Burleson & Company LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 351 shares of the business services provider’s stock, valued at approximately $66,000.

Other institutional investors have also modified their holdings of the company. Chandler Asset Management Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $26,000. Freedman Financial Associates Inc. purchased a new stake in Automatic Data Processing during the fourth quarter worth $35,000. IronBridge Private Wealth LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at $42,000. Atlas Private Wealth Advisors increased its holdings in Automatic Data Processing by 127.6% in the first quarter. Atlas Private Wealth Advisors now owns 223 shares of the business services provider’s stock valued at $42,000 after buying an additional 125 shares in the last quarter. Finally, Better Money Decisions LLC acquired a new position in shares of Automatic Data Processing in the first quarter worth about $43,000. 79.29% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:ADP opened at $200.06 on Friday. Automatic Data Processing, Inc. has a one year low of $127.31 and a one year high of $200.51. The firm has a market capitalization of $85.13 billion, a PE ratio of 34.67, a PEG ratio of 2.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a 50 day moving average of $193.55.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.08 billion. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.92 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 5.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be paid a $0.93 dividend. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.86%. Automatic Data Processing’s payout ratio is presently 62.84%.

Several equities analysts recently weighed in on ADP shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Automatic Data Processing from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Mizuho upped their target price on Automatic Data Processing from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, May 27th. They noted that the move was a valuation call. Barclays lifted their price target on shares of Automatic Data Processing from $197.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, May 3rd. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $171.00 to $185.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 29th. Finally, Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $197.00 to $200.00 and gave the company a “hold” rating in a research report on Wednesday, March 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $177.81.

In other news, VP Sreenivasa Kutam sold 4,583 shares of the company’s stock in a transaction on Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total transaction of $916,600.00. Following the sale, the vice president now owns 5,041 shares of the company’s stock, valued at $1,008,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stuart Sackman sold 576 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $185.00, for a total value of $106,560.00. Following the completion of the sale, the vice president now owns 23,221 shares in the company, valued at $4,295,885. The disclosure for this sale can be found here. Insiders have sold a total of 6,975 shares of company stock valued at $1,374,522 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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