Fairvoy Private Wealth LLC Buys Shares of 696 Automatic Data Processing, Inc. (NASDAQ:ADP)

Fairvoy Private Wealth LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 696 shares of the business services provider’s stock, valued at approximately $213,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its stake 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 valued at $886,345,000 after purchasing an additional 2,892,660 shares during the period. Norges Bank purchased a new position in Automatic Data Processing during the 4th quarter valued at about $455,993,000. Winslow Capital Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $396,714,000. Capital Research Global Investors lifted its holdings in shares of Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $342,942,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Mizuho lifted 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $306.82.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.9%

Shares of Automatic Data Processing stock opened at $306.82 on Monday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The company’s fifty day simple moving average is $308.06 and its 200-day simple moving average is $302.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $124.55 billion, a PE ratio of 31.99, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 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 analysts’ expectations 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 business earned $2.88 EPS. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

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.