National Asset Management Inc. grew its position in shares of Automatic Data Processing (NASDAQ:ADP) by 23.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,233 shares of the business services provider’s stock after acquiring an additional 2,133 shares during the quarter. National Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Savior LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $43,000. Rothschild Investment Corp IL purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $207,000. S.E.E.D. Planning Group LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $365,000. Howland Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 5.0% in the 4th quarter. Howland Capital Management LLC now owns 100,329 shares of the business services provider’s stock worth $17,106,000 after buying an additional 4,815 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Automatic Data Processing by 2.3% in the 4th quarter. Global Retirement Partners LLC now owns 6,678 shares of the business services provider’s stock worth $1,139,000 after buying an additional 153 shares during the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

ADP has been the topic of a number of research analyst reports. BMO Capital Markets cut their price target on shares of Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on shares of Automatic Data Processing from $189.00 to $159.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Credit Suisse Group reissued a “buy” rating and issued a $190.00 price target on shares of Automatic Data Processing in a report on Sunday, February 2nd. UBS Group upgraded Automatic Data Processing from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 1st. Finally, Citigroup lowered their price objective on Automatic Data Processing from $185.00 to $140.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $166.50.

Shares of ADP traded up $0.46 during midday trading on Friday, hitting $133.78. 704,967 shares of the company traded hands, compared to its average volume of 2,525,512. The stock has a 50-day moving average of $139.09 and a 200-day moving average of $158.43. Automatic Data Processing has a one year low of $103.11 and a one year high of $182.32. The firm has a market cap of $57.92 billion, a P/E ratio of 22.87, a PEG ratio of 1.95 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.03 and a quick ratio of 1.03.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 29th. The business services provider reported $1.92 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.92. The company had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Automatic Data Processing had a net margin of 17.20% and a return on equity of 47.51%. Automatic Data Processing’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 earnings per share. Sell-side analysts forecast that Automatic Data Processing will post 5.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be given a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 11th. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.

In related news, VP Brian L. Michaud sold 250 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $140.23, for a total value of $35,057.50. Following the transaction, the vice president now directly owns 5,412 shares in the company, valued at $758,924.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company Profile

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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