Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,420 shares of the business services provider’s stock after acquiring an additional 111 shares during the period. Summit Trail Advisors LLC’s holdings in Automatic Data Processing were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $35,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $41,000. Raleigh Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday. Barclays lifted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $255.42.

Insiders Place Their Bets

In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock worth $965,274 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of ADP traded up $0.85 during mid-day trading on Monday, hitting $242.74. The company’s stock had a trading volume of 1,108,750 shares, compared to its average volume of 1,788,093. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $245.63 and a 200 day simple moving average of $238.95. The firm has a market capitalization of $99.35 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the business posted $2.52 EPS. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.