Pacific Point Advisors LLC Makes New $1.35 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Pacific Point Advisors LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, Holdings Channel reports. The firm purchased 4,425 shares of the business services provider’s stock, valued at approximately $1,348,000. Automatic Data Processing accounts for about 0.8% of Pacific Point Advisors LLC’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fourth Dimension Wealth LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth about $38,000. Vise Technologies Inc. lifted its holdings in shares of Automatic Data Processing by 71.9% during the 4th quarter. Vise Technologies Inc. now owns 6,401 shares of the business services provider’s stock worth $1,874,000 after acquiring an additional 2,677 shares during the period. Connecticut Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 11.8% during the 4th quarter. Connecticut Wealth Management LLC now owns 7,721 shares of the business services provider’s stock worth $2,260,000 after acquiring an additional 816 shares during the period. City National Bank of Florida MSD bought a new position in shares of Automatic Data Processing during the 4th quarter worth about $231,000. Finally, Cornerstone Advisory LLC lifted its holdings in shares of Automatic Data Processing by 9.4% during the 4th quarter. Cornerstone Advisory LLC now owns 2,642 shares of the business services provider’s stock worth $814,000 after acquiring an additional 226 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.3%

Shares of NASDAQ ADP opened at $321.65 on Friday. The stock has a market cap of $130.57 billion, a P/E ratio of 33.54, a P/E/G ratio of 3.62 and a beta of 0.76. The firm has a 50 day moving average price of $300.63 and a 200 day moving average price of $300.90. 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, Inc. has a 52-week low of $231.27 and a 52-week high of $323.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.88 earnings per share. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company’s 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 sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ADP shares. Wall Street Zen downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, May 1st. TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday. Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $305.64.

About Automatic Data Processing

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.