Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Savvy Advisors Inc.

Key Points

• Savvy Advisors Inc. has boosted its holdings in Automatic Data Processing, Inc. by 37.4%, acquiring 3,059 shares valued at approximately $935,000.
• Automatic Data Processing recently declared a quarterly dividend of $1.54, contributing to an annualized yield of 2.0%, with a payout ratio of 61.72%.
• The company's stock opened at $305.81 and has seen a year-high of $329.93, with earnings per share (EPS) of $2.26 for the last quarter, exceeding analysts' expectations.

Savvy Advisors Inc. lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 37.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,059 shares of the business services provider's stock after purchasing an additional 832 shares during the quarter. Savvy Advisors Inc.'s holdings in Automatic Data Processing were worth $935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. National Bank of Canada FI grew its stake in shares of Automatic Data Processing by 22.6% during the 1st quarter. National Bank of Canada FI now owns 464,739 shares of the business services provider's stock worth $141,989,000 after purchasing an additional 85,755 shares during the period. LaSalle St. Investment Advisors LLC grew its stake in shares of Automatic Data Processing by 224.1% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 2,411 shares of the business services provider's stock worth $736,000 after purchasing an additional 1,667 shares during the period. AlphaCore Capital LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at about $688,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Automatic Data Processing by 4.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,375,432 shares of the business services provider's stock valued at $725,766,000 after acquiring an additional 99,505 shares during the last quarter. Finally, Y.D. More Investments Ltd acquired a new stake in Automatic Data Processing in the 1st quarter valued at about $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on ADP shares. TD Securities increased their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. BMO Capital Markets raised shares of Automatic Data Processing to a "hold" rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a research note on Friday, June 13th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $310.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada reissued 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $314.33.

Automatic Data Processing Trading Down 0.7%

ADP traded down $2.09 on Monday, reaching $303.72. 1,265,659 shares of the company's stock were exchanged, compared to its average volume of 1,483,232. The company's 50 day moving average is $308.13 and its 200-day moving average is $305.54. The company has a market cap of $123.02 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 2.80 and a beta of 0.81. Automatic Data Processing, Inc. has a twelve month low of $258.63 and a twelve month high of $329.93. 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 posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.09 EPS. Equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced 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. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. 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.