Claris Advisors LLC MO Has $344,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Claris Advisors LLC MO grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,127 shares of the business services provider’s stock after buying an additional 84 shares during the quarter. Claris Advisors LLC MO’s holdings in Automatic Data Processing were worth $344,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ADP. GAMMA Investing LLC increased its position in shares of Automatic Data Processing by 34,655.1% during the 1st quarter. GAMMA Investing LLC now owns 2,901,007 shares of the business services provider’s stock worth $886,345,000 after purchasing an additional 2,892,660 shares in the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $455,993,000. Winslow Capital Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $396,714,000. Capital Research Global Investors increased its position in shares of Automatic Data Processing by 26.9% during 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 in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $342,942,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.9%

Shares of NASDAQ ADP opened at $306.82 on Monday. The firm has a market capitalization of $124.55 billion, a PE ratio of 31.99, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The firm’s 50-day moving average is $308.06 and its 200-day moving average is $302.85.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities increased their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday. Finally, UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $306.82.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the firm’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 sale, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was 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 $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Automatic Data Processing Company 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.