Fiduciary Group LLC Purchases 219 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fiduciary Group LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,843 shares of the business services provider’s stock after purchasing an additional 219 shares during the period. Fiduciary Group LLC’s holdings in Automatic Data Processing were worth $4,229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Moody Lynn & Lieberson LLC lifted its holdings in Automatic Data Processing by 0.7% in the first quarter. Moody Lynn & Lieberson LLC now owns 18,549 shares of the business services provider’s stock valued at $5,667,000 after acquiring an additional 121 shares during the period. Aaron Wealth Advisors LLC grew its holdings in Automatic Data Processing by 1.1% during the first quarter. Aaron Wealth Advisors LLC now owns 8,905 shares of the business services provider’s stock valued at $2,721,000 after purchasing an additional 100 shares during the period. FSM Wealth Advisors LLC lifted its position in shares of Automatic Data Processing by 14.7% during the 1st quarter. FSM Wealth Advisors LLC now owns 1,319 shares of the business services provider’s stock valued at $403,000 after buying an additional 169 shares in the last quarter. Detalus Advisors LLC increased its holdings in Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock worth $478,000 after acquiring an additional 37 shares in the last quarter. Finally, Pictet North America Advisors SA increased its stake in shares of Automatic Data Processing by 11.8% in the first quarter. Pictet North America Advisors SA now owns 36,241 shares of the business services provider’s stock worth $11,073,000 after purchasing an additional 3,817 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.5%

ADP stock opened at $305.57 on Wednesday. The company has a market capitalization of $124.03 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. The firm’s fifty day simple moving average is $311.35 and its 200-day simple moving average is $303.23. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 EPS. The business’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast 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 was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s payout ratio is presently 63.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. TD Securities lifted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, Morgan Stanley boosted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $307.08.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the company’s 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 sale, the vice president directly owned 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

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.