Kathmere Capital Management LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kathmere Capital Management LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,379 shares of the business services provider’s stock after buying an additional 157 shares during the period. Kathmere Capital Management LLC’s holdings in Automatic Data Processing were worth $844,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADP. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $39,000. Evolution Advisers Inc. bought a new position in Automatic Data Processing in the fourth quarter worth approximately $41,000. Raleigh Capital Management Inc. raised its stake in Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new position in Automatic Data Processing in the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $238.69 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $245.79 and its 200 day moving average price is $243.83. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a market cap of $97.69 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm earned $2.52 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. TD Cowen reduced their price objective on shares of 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. JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI upped their price target on 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 research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $255.42.

About Automatic Data Processing

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.