Petredis Investment Advisors LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Petredis Investment Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,502 shares of the business services provider’s stock after purchasing an additional 166 shares during the period. Petredis Investment Advisors LLC’s holdings in Automatic Data Processing were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ADP. Main Street Group LTD boosted its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares during the period. Cyrus J. Lawrence LLC increased its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 1,500 shares of the 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 sale, the vice president now owns 12,073 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Securities raised 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. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $305.64.

Automatic Data Processing Trading Down 2.5%

NASDAQ:ADP opened at $318.57 on Tuesday. The firm has a 50-day simple moving average of $306.18 and a 200-day simple moving average of $302.73. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The firm has a market cap of $129.31 billion, a P/E ratio of 33.22, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion during 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 quarter in the previous year, the firm posted $2.88 earnings per share. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS 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. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

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.