Thoroughbred Financial Services LLC boosted its holdings in Automatic Data Processing (NASDAQ:ADP) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 4,213 shares of the business services provider’s stock after purchasing an additional 106 shares during the period. Thoroughbred Financial Services LLC’s holdings in Automatic Data Processing were worth $673,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADP. Enterprise Financial Services Corp lifted its holdings in shares of Automatic Data Processing by 2.0% during the first quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock valued at $514,000 after purchasing an additional 64 shares during the last quarter. Bank of The West increased its position in Automatic Data Processing by 1.4% during the first quarter. Bank of The West now owns 4,649 shares of the business services provider’s stock worth $743,000 after buying an additional 66 shares during the last quarter. BTR Capital Management Inc. increased its position in Automatic Data Processing by 1.3% during the first quarter. BTR Capital Management Inc. now owns 5,252 shares of the business services provider’s stock worth $839,000 after buying an additional 67 shares during the last quarter. PagnatoKarp Partners LLC increased its position in Automatic Data Processing by 2.5% during the fourth quarter. PagnatoKarp Partners LLC now owns 2,879 shares of the business services provider’s stock worth $380,000 after buying an additional 70 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in Automatic Data Processing by 27.5% during the fourth quarter. Valley National Advisers Inc. now owns 325 shares of the business services provider’s stock worth $43,000 after buying an additional 70 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.

Shares of Automatic Data Processing stock traded up $0.10 on Friday, hitting $161.23. The stock had a trading volume of 181,709 shares, compared to its average volume of 1,965,892. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $165.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $70.13 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.31 and a beta of 0.95.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing will post 5.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 72.64%.

A number of equities analysts have weighed in on the company. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 10th. Citigroup boosted their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Barclays boosted their price target on Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Finally, Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $159.00.

In related news, VP Donald Weinstein sold 1,706 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total value of $281,507.06. Following the completion of the sale, the vice president now directly owns 26,220 shares in the company, valued at $4,326,562.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the sale, the insider now owns 77,595 shares of the company’s stock, valued at $12,803,175. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,456 shares of company stock valued at $5,010,669. 0.33% of the stock is currently owned by corporate insiders.

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About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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