Dunhill Financial LLC Buys 102 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Dunhill Financial LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 208 shares of the business services provider’s stock after purchasing an additional 102 shares during the period. Dunhill Financial LLC’s holdings in Automatic Data Processing were worth $61,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after buying an additional 22,766 shares in the last quarter. Diversified Trust Co grew its position in Automatic Data Processing by 0.7% during the 4th quarter. Diversified Trust Co now owns 12,644 shares of the business services provider’s stock worth $3,701,000 after acquiring an additional 93 shares during the last quarter. Range Financial Group LLC increased its stake in shares of Automatic Data Processing by 48.3% in the fourth quarter. Range Financial Group LLC now owns 1,332 shares of the business services provider’s stock valued at $390,000 after buying an additional 434 shares in the last quarter. Innova Wealth Partners bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $234,000. Finally, InvesTrust acquired a new position in Automatic Data Processing during the 4th quarter worth $8,650,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $305.18 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $123.88 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a 50-day simple moving average of $297.68 and a 200 day simple moving average of $298.95. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced 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 return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio is 63.05%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ADP. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, TD Securities raised their target price on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $303.55.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is currently owned by insiders.

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.