Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% in the 1st quarter, Holdings Channel reports. The fund owned 2,920 shares of the business services provider’s stock after acquiring an additional 127 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Automatic Data Processing were worth $878,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ADP. Main Street Group LTD lifted its position in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 38 shares during the period. 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. 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. Banque de Luxembourg S.A. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Mizuho increased their price target 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. UBS Group decreased their price objective 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. Finally, Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $307.08.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction on 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 approximately $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.3%

NASDAQ:ADP opened at $306.77 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $309.19 and a 200-day simple moving average of $302.92. The company has a market capitalization of $124.52 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 3.19 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS 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 business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same period in the prior year, the business earned $2.88 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Automatic Data Processing 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.