Arjuna Capital Buys 3,025 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Arjuna Capital increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 59.4% in the first quarter, bringing its total investment to approximately $2.48 million with 8,119 shares owned.
• Several analysts have set new price targets for ADP, with Mizuho raising their target to $332.00 and the average target now at $314.33, indicating a general consensus of a "Hold" rating.
• Automatic Data Processing recently announced a quarterly dividend of $1.54 per share, yielding around 2.0%, with a payout ratio of 61.72%.

Arjuna Capital lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 59.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,119 shares of the business services provider's stock after buying an additional 3,025 shares during the quarter. Arjuna Capital's holdings in Automatic Data Processing were worth $2,481,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC lifted its stake in shares of Automatic Data Processing by 4.7% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider's stock valued at $238,000 after purchasing an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its stake in shares of Automatic Data Processing by 2.4% in the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider's stock valued at $478,000 after purchasing an additional 37 shares during the last quarter. Finally, Main Street Group LTD lifted its stake 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 acquiring an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Analysts Set New Price Targets

ADP has been the topic of a number of analyst reports. Morgan Stanley increased their price target 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. TD Securities lifted their price target on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Stifel Nicolaus lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research report on Thursday, July 31st. BMO Capital Markets raised 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. Finally, Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $314.33.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $2.55 during midday trading on Monday, hitting $303.27. The company had a trading volume of 397,293 shares, compared to its average volume of 1,744,615. The business's 50 day simple moving average is $308.13 and its two-hundred day simple moving average is $305.54. The stock has a market cap of $122.83 billion, a PE ratio of 30.39, a P/E/G ratio of 2.80 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 1.05. Automatic Data Processing, Inc. has a 1-year low of $258.63 and a 1-year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, beating the consensus estimate 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 company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.05 billion. During the same quarter in the previous year, the company earned $2.09 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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