Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 11,713 shares of the business services provider’s stock after buying an additional 333 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Automatic Data Processing were worth $3,579,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ADP. Brighton Jones LLC lifted its holdings in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Angeles Wealth Management LLC raised its position in shares of Automatic Data Processing by 10.3% during the 4th quarter. Angeles Wealth Management LLC now owns 1,562 shares of the business services provider’s stock worth $457,000 after purchasing an additional 146 shares during the period. Savant Capital LLC lifted its holdings in shares of Automatic Data Processing by 5.6% in the 4th quarter. Savant Capital LLC now owns 11,191 shares of the business services provider’s stock worth $3,276,000 after purchasing an additional 597 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the 4th quarter valued at approximately $37,000. Finally, Soltis Investment Advisors LLC boosted its position in Automatic Data Processing by 2.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,983 shares of the business services provider’s stock valued at $873,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $314.52 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $329.93. The stock has a fifty day moving average of $306.37 and a 200-day moving average of $302.82. The firm has a market capitalization of $127.67 billion, a P/E ratio of 32.80, a PEG ratio of 3.62 and a beta of 0.79.

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, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.88 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed 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 1.96%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is presently 63.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADP. 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. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Finally, UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $305.64.

Insiders Place Their Bets

In other news, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing 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 completion of the transaction, 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. Company 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.