Callan Family Office LLC Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Callan Family Office LLC significantly reduced its stake in Automatic Data Processing (ADP) by 73.4%, now holding 4,743 shares valued at $1.45 million after selling over 13,000 shares during the quarter.
• Several research firms have adjusted their price targets for ADP, with Stifel Nicolaus raising it to $318.00 and Mizuho to $332.00, reflecting a generally positive outlook despite a current average rating of "Hold."
• ADP recently reported quarterly earnings of $2.26 per share, exceeding estimates, alongside a revenue increase of 6.3% to $5.13 billion, showcasing strong year-over-year growth.

Callan Family Office LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 73.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,743 shares of the business services provider's stock after selling 13,065 shares during the quarter. Callan Family Office LLC's holdings in Automatic Data Processing were worth $1,449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sentinus LLC grew its holdings in shares of Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Syntegra Private Wealth Group LLC grew its holdings in shares of Automatic Data Processing by 4.7% in the first 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 in the last quarter. Rehmann Capital Advisory Group grew its holdings in shares of Automatic Data Processing by 1.0% in the fourth 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 in the last quarter. Detalus Advisors LLC grew its holdings in shares of Automatic Data Processing by 2.4% in the first 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 in the last quarter. Finally, Main Street Group LTD grew its holdings in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADP. Mizuho raised their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a research note on Thursday, July 31st. TD Securities boosted 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 report on Wednesday, May 21st. Finally, BMO Capital Markets upgraded shares of Automatic Data Processing to a "hold" rating and set a $340.00 target price for the company in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $314.33.

Automatic Data Processing Trading Up 0.0%

Shares of NASDAQ:ADP traded up $0.11 on Friday, hitting $301.79. 1,362,355 shares of the company's stock were exchanged, compared to its average volume of 1,535,148. Automatic Data Processing, Inc. has a 12 month low of $262.21 and a 12 month high of $329.93. The stock has a market capitalization of $122.24 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81. The business's 50 day simple moving average is $305.74 and its two-hundred day simple moving average is $305.57. 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 (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.05 billion. During the same period last year, the company earned $2.09 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS 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. Stockholders of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing's dividend payout ratio (DPR) is 61.72%.

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.