Optivise Advisory Services LLC Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Optivise Advisory Services LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,590 shares of the business services provider’s stock after acquiring an additional 40 shares during the quarter. Optivise Advisory Services LLC’s holdings in Automatic Data Processing were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC raised its stake in shares of Automatic Data Processing by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after purchasing an additional 65,965 shares during the period. Northern Trust Corp raised its stake in shares of Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after purchasing an additional 902,354 shares during the period. Capital Research Global Investors raised its stake 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 during the period. Finally, Invesco Ltd. raised its stake in shares of Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after purchasing an additional 219,032 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the vice president now owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This trade represents 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 insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $307.62 on Wednesday. The firm has a market cap of $124.87 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 3.20 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day moving average price of $308.94 and a 200-day moving average price of $302.89.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the firm posted $2.88 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Morgan Stanley boosted 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. Royal Bank Of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, UBS Group decreased their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $307.08.

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.