Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Cut by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,698 shares of the business services provider’s stock after selling 1,482 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Automatic Data Processing were worth $4,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $35,000. Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $39,000. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $41,000. Raleigh Capital Management Inc. lifted its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares in the last quarter. Finally, Bfsg LLC acquired a new position in Automatic Data Processing in the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of 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. Finally, Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Stock Up 0.6 %

Automatic Data Processing stock opened at $238.69 on Friday. The company has a market capitalization of $97.69 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The firm’s fifty day simple moving average is $245.79 and its 200-day simple moving average is $243.83. 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 (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the firm posted $2.52 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

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.