Continuum Advisory LLC Has $306,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Continuum Advisory LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 25.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,002 shares of the business services provider’s stock after buying an additional 205 shares during the period. Continuum Advisory LLC’s holdings in Automatic Data Processing were worth $306,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Main Street Group LTD lifted its holdings in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Abound Wealth Management lifted its holdings in shares of Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. Banque de Luxembourg S.A. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other 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 transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, 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 the business’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 directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Mizuho boosted their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. 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 company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $307.08.

Automatic Data Processing Trading Up 0.4%

ADP opened at $311.40 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year 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. The company has a market cap of $126.40 billion, a P/E ratio of 31.87, a price-to-earnings-growth ratio of 3.22 and a beta of 0.79. The company has a fifty day moving average price of $310.05 and a two-hundred day moving average price of $303.05.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm posted $2.88 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) 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.