Main Street Group LTD Acquires 38 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Main Street Group LTD boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113 shares of the business services provider’s stock after buying an additional 38 shares during the period. Main Street Group LTD’s holdings in Automatic Data Processing were worth $33,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Automatic Data Processing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock valued at $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC raised its stake in shares of Automatic Data Processing by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock valued at $3,098,305,000 after buying an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after acquiring an additional 902,354 shares during the period. Capital Research Global Investors lifted its holdings in shares of Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after acquiring an additional 1,299,390 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock valued at $1,137,710,000 after acquiring an additional 219,032 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $308.19 on Wednesday. The business’s fifty day moving average is $297.44 and its two-hundred day moving average is $299.52. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $125.10 billion, a P/E ratio of 32.14, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

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. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 $3,686,852.74. The trade was a 11.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now 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. Insiders sold 2,451 shares of company stock worth $743,024 in the last quarter. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ADP shares. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus increased their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Securities increased their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Finally, UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $303.55.

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.