ABC Arbitrage SA acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 9,668 shares of the business services provider's stock, valued at approximately $2,954,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Brighton Jones LLC increased its stake in Automatic Data Processing by 92.1% in the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,808 shares in the last quarter. Bank Pictet & Cie Europe AG acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $957,000. FMR LLC boosted its holdings in Automatic Data Processing by 0.6% in the fourth quarter. FMR LLC now owns 1,268,211 shares of the business services provider's stock worth $371,243,000 after acquiring an additional 7,082 shares in the last quarter. Polymer Capital Management US LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $710,000. Finally, Certior Financial Group LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $384,000. 80.03% of the stock is owned by institutional investors and hedge funds.
Automatic Data Processing Stock Performance
Shares of NASDAQ ADP traded up $1.85 during trading on Thursday, reaching $303.49. 1,519,826 shares of the stock traded hands, compared to its average volume of 1,489,213. The company has a 50-day moving average of $308.52 and a 200-day moving average of $305.35. Automatic Data Processing, Inc. has a 52-week low of $258.51 and a 52-week high of $329.93. The stock has a market capitalization of $123.19 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.02.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the business earned $2.09 earnings per share. The company's quarterly revenue was up 6.3% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.
Automatic Data Processing Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing's dividend payout ratio is 61.72%.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Mizuho boosted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday, June 13th. BMO Capital Markets raised Automatic Data Processing to a "hold" rating and set a $340.00 price objective for the company in a research note on Thursday, July 10th. Finally, Morgan Stanley lifted their target price on Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and an average target price of $314.33.
Get Our Latest Stock Report on ADP
Automatic Data Processing Profile
(
Free Report)
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.
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