Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,420 shares of the business services provider’s stock after purchasing an additional 111 shares during the period. Summit Trail Advisors LLC’s holdings in Automatic Data Processing were worth $1,036,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $35,000. Raleigh Capital Management Inc. grew its stake in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares in the last quarter. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $41,000. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $255.42.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock valued at $965,274 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP stock traded up $0.85 during trading on Monday, reaching $242.74. 1,108,750 shares of the stock were exchanged, compared to its average volume of 1,788,093. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $99.35 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The stock has a 50 day simple moving average of $245.63 and a 200-day simple moving average of $238.95.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm earned $2.52 EPS. Automatic Data Processing’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

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.