Nvest Financial LLC Has $1.47 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nvest Financial LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,812 shares of the business services provider’s stock after buying an additional 795 shares during the quarter. Nvest Financial LLC’s holdings in Automatic Data Processing were worth $1,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG bought a new stake in Automatic Data Processing in the fourth quarter valued at $957,000. Illinois Municipal Retirement Fund raised its holdings in shares of Automatic Data Processing by 44.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 17,176 shares of the business services provider’s stock valued at $5,028,000 after purchasing an additional 5,299 shares during the period. Lake Street Advisors Group LLC boosted its position in shares of Automatic Data Processing by 2.0% during the 4th quarter. Lake Street Advisors Group LLC now owns 10,498 shares of the business services provider’s stock worth $3,089,000 after purchasing an additional 210 shares in the last quarter. Finally, National Pension Service grew its stake in shares of Automatic Data Processing by 22.4% in the 4th quarter. National Pension Service now owns 924,489 shares of the business services provider’s stock valued at $270,626,000 after buying an additional 168,972 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $298.19 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market cap of $121.04 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 3.23 and a beta of 0.79. The stock’s fifty day simple moving average is $310.13 and its two-hundred day simple moving average is $303.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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 net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the firm earned $2.88 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is presently 63.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ADP. Morgan Stanley boosted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 17th. 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 report on Wednesday, May 21st. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Mizuho upped 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, June 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $307.08.

Insider Activity

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $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 corporate insiders.

About Automatic Data Processing

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.