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

Flagship Harbor Advisors LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,736 shares of the business services provider’s stock after acquiring an additional 43 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Automatic Data Processing were worth $836,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADP. Main Street Group LTD raised its stake in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares in the last quarter. Abound Wealth Management raised its stake in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after buying an additional 43 shares in the last quarter. Cyrus J. Lawrence LLC raised its stake in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares in the last quarter. Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $311.40 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93. The stock has a market capitalization of $126.40 billion, a P/E ratio of 31.87, a PEG ratio of 3.22 and a beta of 0.79. 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 business’s fifty day moving average price is $310.05 and its 200 day moving average price is $303.05.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share 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 analysts’ expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate 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 will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ADP shares. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Stifel Nicolaus raised their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. TD Securities raised their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Morgan Stanley raised their price target on 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. Finally, Mizuho raised their price target on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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 that occurred on 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 owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, 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 disclosure for this sale can be found here. 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.