Fiduciary Family Office LLC Buys Shares of 3,534 Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Fiduciary Family Office LLC acquired 3,534 shares of Automatic Data Processing, Inc. (NASDAQ:ADP) valued at approximately $1,080,000 in the first quarter.
• Automatic Data Processing reported quarterly earnings of $2.26 per share, exceeding analyst expectations, with revenue of $5.13 billion, a 6.3% year-over-year increase.
• The company recently announced a quarterly dividend of $1.54 per share, reflecting an annual dividend yield of 2.0% and a payout ratio of 61.72%.

Fiduciary Family Office LLC purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,534 shares of the business services provider's stock, valued at approximately $1,080,000.

A number of other hedge funds have also recently bought and sold shares of ADP. AlphaCore Capital LLC acquired a new stake in Automatic Data Processing during the 1st quarter worth about $688,000. Golden State Wealth Management LLC boosted its position in Automatic Data Processing by 29.6% during the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock worth $173,000 after acquiring an additional 129 shares during the period. GAMMA Investing LLC boosted its position in Automatic Data Processing by 13.8% during the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock worth $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank boosted its position in Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after acquiring an additional 21,910 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Automatic Data Processing by 8.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock worth $76,638,000 after acquiring an additional 20,467 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 1.3%

Shares of ADP traded down $4.09 during trading hours on Tuesday, hitting $299.63. 1,280,014 shares of the stock traded hands, compared to its average volume of 1,747,471. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64. Automatic Data Processing, Inc. has a 1-year low of $259.08 and a 1-year high of $329.93. The firm has a market capitalization of $121.36 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81. The business has a fifty day moving average of $307.69 and a 200-day moving average of $305.58.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing's dividend payout ratio is 61.72%.

Analyst Ratings Changes

A number of equities research analysts have commented on ADP shares. Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Morgan Stanley lifted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Stifel Nicolaus lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a report on Thursday, July 31st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, TD Securities boosted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $314.33.

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.