GoalVest Advisory LLC Purchases 200 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

GoalVest Advisory LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 188.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 306 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. GoalVest Advisory LLC’s holdings in Automatic Data Processing were worth $76,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ADP. Everence Capital Management Inc. boosted its holdings in Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares during the last quarter. BKM Wealth Management LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $1,635,000. Bellecapital International Ltd. boosted its holdings in Automatic Data Processing by 2.8% during the fourth quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock worth $5,066,000 after buying an additional 596 shares during the last quarter. Finally, Marks Group Wealth Management Inc bought a new position in Automatic Data Processing during the fourth quarter worth about $4,015,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $237.30 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The stock has a 50 day moving average of $245.98 and a 200-day moving average of $243.79. The company has a market capitalization of $97.12 billion, a P/E ratio of 26.48, a P/E/G ratio of 2.73 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.52 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.18 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ADP. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Barclays raised their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Company 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.