Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Boosted by Rise Advisors LLC

Rise Advisors LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6,666.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 203 shares of the business services provider’s stock after buying an additional 200 shares during the period. Rise Advisors LLC’s holdings in Automatic Data Processing were worth $51,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Heritage Investment Group Inc. boosted its stake in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after purchasing an additional 41 shares during the period. Bedel Financial Consulting Inc. boosted its position in shares of Automatic Data Processing by 0.8% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after acquiring an additional 42 shares during the period. Argus Investors Counsel Inc. grew its stake in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after acquiring an additional 43 shares during the last quarter. Morningstar Investment Management LLC grew its stake in shares of Automatic Data Processing by 1.7% in the fourth quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after acquiring an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC increased its position in Automatic Data Processing by 1.0% during the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $246.06 on Friday. The firm has a market capitalization of $100.71 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.69 and a beta of 0.78. The stock has a fifty day moving average price of $245.80 and a two-hundred day moving average price of $243.29. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company posted $2.52 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on ADP shares. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, TD Cowen cut their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $255.42.

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.