NorthRock Partners LLC Acquires 3,849 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NorthRock Partners LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 346.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,961 shares of the business services provider’s stock after acquiring an additional 3,849 shares during the quarter. NorthRock Partners LLC’s holdings in Automatic Data Processing were worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Cooper Financial Group increased its stake in Automatic Data Processing by 12.8% during the 4th quarter. Cooper Financial Group now owns 1,114 shares of the business services provider’s stock valued at $326,000 after purchasing an additional 126 shares in the last quarter. Grassi Investment Management bought a new stake in Automatic Data Processing during the 4th quarter valued at about $227,000. Miracle Mile Advisors LLC increased its stake in Automatic Data Processing by 93.0% during the 4th quarter. Miracle Mile Advisors LLC now owns 4,344 shares of the business services provider’s stock valued at $1,272,000 after purchasing an additional 2,093 shares in the last quarter. Marcum Wealth LLC increased its stake in Automatic Data Processing by 4.3% during the 4th quarter. Marcum Wealth LLC now owns 2,171 shares of the business services provider’s stock valued at $636,000 after purchasing an additional 90 shares in the last quarter. Finally, PSI Advisors LLC increased its stake in Automatic Data Processing by 3,750.0% during the 4th quarter. PSI Advisors LLC now owns 231 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 225 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADP shares. TD Securities raised their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. Finally, UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $303.55.

Automatic Data Processing Stock Performance

ADP opened at $309.41 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $125.60 billion, a price-to-earnings ratio of 32.26, a PEG ratio of 3.62 and a beta of 0.76. The company’s 50 day moving average is $297.49 and its 200 day moving average is $299.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.88 earnings per share. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock valued at $743,024 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Profile

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.