Retirement Guys Formula LLC Makes New $911,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Retirement Guys Formula LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,983 shares of the business services provider’s stock, valued at approximately $911,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AMG National Trust Bank grew its position in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after acquiring an additional 33 shares during the period. Sentinus LLC lifted its stake in shares of Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 35 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 36 shares during the period. Canton Hathaway LLC increased its position in shares of Automatic Data Processing by 6.7% during the 4th quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock worth $174,000 after purchasing an additional 37 shares during the last quarter. Finally, Delta Financial Advisors LLC raised its holdings in Automatic Data Processing by 0.3% in the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after buying an additional 37 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.3%

Shares of NASDAQ ADP opened at $310.24 on Tuesday. The stock has a market cap of $125.93 billion, a P/E ratio of 31.75, a PEG ratio of 3.18 and a beta of 0.79. The business’s fifty day simple moving average is $309.78 and its 200-day simple moving average is $302.99. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

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

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the firm’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 sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was 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. This 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 corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Mizuho boosted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Finally, UBS Group lowered their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research report on Friday, June 13th. One 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 company. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target 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.