May Hill Capital LLC Takes Position in Automatic Data Processing, Inc. $ADP

May Hill Capital LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 689 shares of the business services provider’s stock, valued at approximately $212,000.

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Automatic Data Processing by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock valued at $12,511,418,000 after acquiring an additional 218,614 shares during the period. Ameriprise Financial Inc. boosted its holdings in Automatic Data Processing by 15.7% during the 1st quarter. Ameriprise Financial Inc. now owns 4,431,478 shares of the business services provider’s stock valued at $1,348,805,000 after acquiring an additional 601,400 shares during the period. Invesco Ltd. boosted its holdings in Automatic Data Processing by 3.7% during the 1st quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock valued at $1,231,809,000 after acquiring an additional 145,161 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Automatic Data Processing by 2.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,848,307 shares of the business services provider’s stock valued at $1,175,773,000 after acquiring an additional 77,296 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Automatic Data Processing by 22.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,059,100 shares of the business services provider’s stock valued at $934,647,000 after acquiring an additional 564,187 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 23,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $298.32, for a total value of $7,041,843.60. Following the completion of the transaction, the chief executive officer owned 76,161 shares of the company’s stock, valued at approximately $22,720,349.52. This represents a 23.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph Desilva sold 4,614 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total value of $1,368,373.98. Following the completion of the transaction, the vice president directly owned 17,536 shares of the company’s stock, valued at $5,200,651.52. This represents a 20.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 52,516 shares of company stock worth $15,632,410. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Stifel Nicolaus increased their target price on Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a report on Thursday, July 31st. Wells Fargo & Company assumed coverage on Automatic Data Processing in a report on Wednesday, October 22nd. They set an “underweight” rating and a $288.00 target price for the company. Citigroup assumed coverage on Automatic Data Processing in a report on Thursday, October 23rd. They set a “neutral” rating and a $303.00 target price for the company. UBS Group dropped their target price on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating for the company in a report on Wednesday, September 17th. Finally, Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $313.17.

Automatic Data Processing Trading Down 0.3%

NASDAQ ADP opened at $279.63 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $272.62 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day simple moving average of $292.39 and a two-hundred day simple moving average of $302.08. The stock has a market cap of $113.28 billion, a P/E ratio of 28.02, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The business had revenue of $5.13 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter last year, the business posted $2.09 EPS. The business’s revenue was up 6.3% on a year-over-year basis. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th were given a $1.54 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $6.16 annualized dividend and a dividend yield of 2.2%. Automatic Data Processing’s dividend payout ratio is currently 61.72%.

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.