2,240 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC has invested approximately $688,000 in Automatic Data Processing, purchasing 2,240 shares during the first quarter.
• The company recently reported quarterly earnings with $2.26 earnings per share (EPS), exceeding analysts' expectations of $2.23, along with a revenue of $5.13 billion.
• Automatic Data Processing announced a quarterly dividend of $1.54 per share, which will be paid to shareholders on October 1st, reflecting a 2.0% yield.

AlphaCore Capital LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,240 shares of the business services provider's stock, valued at approximately $688,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Sentinus LLC boosted its stake in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares during the period. Syntegra Private Wealth Group LLC lifted its position in Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock worth $238,000 after buying an additional 35 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after buying an additional 36 shares in the last quarter. Detalus Advisors LLC lifted its position in Automatic Data Processing by 2.4% during the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock worth $478,000 after buying an additional 37 shares in the last quarter. Finally, Main Street Group LTD lifted its position in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADP shares. Morgan Stanley boosted their price target on shares of Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. UBS Group cut their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, TD Securities boosted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $314.33.

Automatic Data Processing Stock Performance

ADP traded up $2.21 on Wednesday, reaching $301.84. The company had a trading volume of 437,978 shares, compared to its average volume of 1,738,628. Automatic Data Processing, Inc. has a fifty-two week low of $260.36 and a fifty-two week high of $329.93. The stock has a market cap of $122.26 billion, a P/E ratio of 30.28, a P/E/G ratio of 2.79 and a beta of 0.81. The company's fifty day moving average is $307.15 and its 200 day moving average is $305.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating 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 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 business earned $2.09 EPS. Automatic Data Processing's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio is presently 61.72%.

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.