Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Oak Asset Management LLC

Oak Asset Management LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,745 shares of the business services provider’s stock after purchasing an additional 90 shares during the period. Oak Asset Management LLC’s holdings in Automatic Data Processing were worth $686,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $35,000. Pineridge Advisors LLC purchased a new position in Automatic Data Processing in the fourth quarter worth approximately $39,000. Evolution Advisers Inc. purchased a new position in Automatic Data Processing in the fourth quarter worth approximately $41,000. Raleigh Capital Management Inc. lifted 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 acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new position in Automatic Data Processing in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $238.69 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $97.69 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.62 and a beta of 0.78. The company’s fifty day moving average is $245.79 and its two-hundred day moving average is $243.86. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the company posted $2.52 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid 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 2.35%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADP. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Barclays lifted their price target 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. TD Cowen decreased 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 note on Thursday, May 2nd. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price target 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. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company 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.