Calamos Advisors LLC Grows Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Calamos Advisors LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,717 shares of the business services provider’s stock after buying an additional 1,111 shares during the period. Calamos Advisors LLC’s holdings in Automatic Data Processing were worth $30,467,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. increased its stake in Automatic Data Processing by 6.7% in the 1st quarter. Goelzer Investment Management Inc. now owns 4,332 shares of the business services provider’s stock valued at $1,323,000 after purchasing an additional 271 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Automatic Data Processing by 1.6% in the first quarter. Checchi Capital Advisers LLC now owns 6,027 shares of the business services provider’s stock valued at $1,841,000 after purchasing an additional 94 shares during the last quarter. Values Added Financial LLC grew its holdings in Automatic Data Processing by 3.2% in the first quarter. Values Added Financial LLC now owns 1,845 shares of the business services provider’s stock valued at $564,000 after purchasing an additional 57 shares during the last quarter. North Capital Inc. purchased a new position in shares of Automatic Data Processing in the first quarter valued at $172,000. Finally, D.A. Davidson & CO. increased its position in shares of Automatic Data Processing by 1.0% in the first quarter. D.A. Davidson & CO. now owns 262,858 shares of the business services provider’s stock valued at $80,311,000 after buying an additional 2,615 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other news, 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 transaction of $140,120.92. Following the completion of the transaction, the vice president owned 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $308.96 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company’s 50 day simple moving average is $311.86 and its 200 day simple moving average is $303.33. The company has a market capitalization of $125.41 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 2.84 and a beta of 0.76. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm posted $2.88 EPS. Automatic Data Processing’s revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th were paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADP. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. UBS Group dropped their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. Finally, TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $307.08.

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.