Wealth Enhancement Advisory Services LLC Buys 20,467 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealth Enhancement Advisory Services LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250,836 shares of the business services provider’s stock after purchasing an additional 20,467 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Automatic Data Processing worth $76,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMG National Trust Bank increased its position in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after buying an additional 33 shares in the last quarter. Sentinus LLC increased its position in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after buying an additional 35 shares in the last quarter. Rehmann Capital Advisory Group increased its position in Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after buying an additional 36 shares in the last quarter. Canton Hathaway LLC increased its position in Automatic Data Processing by 6.7% in the 4th quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock valued at $174,000 after buying an additional 37 shares in the last quarter. Finally, Delta Financial Advisors LLC increased its position in Automatic Data Processing by 0.3% in the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after buying an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.3%

NASDAQ:ADP opened at $306.77 on Friday. The company has a market cap of $124.52 billion, a P/E ratio of 31.40, a P/E/G ratio of 3.18 and a beta of 0.79. The stock’s fifty day moving average price is $309.48 and its two-hundred day moving average price is $302.93. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

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

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is currently 63.05%.

Insider Transactions at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ADP shares. Royal Bank Of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Mizuho increased their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. UBS Group lowered their price objective on 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. Morgan Stanley increased their price objective on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Stifel Nicolaus increased their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.