E Fund Management Co. Ltd. Has $3.51 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• E Fund Management Co. Ltd. significantly increased its holdings in Automatic Data Processing, Inc. by 96.4% during the first quarter, owning a total of 11,489 shares valued at approximately $3.51 million.
• The company declared a quarterly dividend of $1.54 per share, which will be paid on October 1st, representing a 2.1% dividend yield.
• Automatic Data Processing reported a quarterly earnings per share (EPS) of $2.26, exceeding analysts' expectations of $2.23, with revenue reaching $5.13 billion.

E Fund Management Co. Ltd. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 96.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,489 shares of the business services provider's stock after purchasing an additional 5,638 shares during the period. E Fund Management Co. Ltd.'s holdings in Automatic Data Processing were worth $3,510,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ADP. AlphaCore Capital LLC bought a new position in Automatic Data Processing during the first quarter valued at about $688,000. Golden State Wealth Management LLC increased its stake in Automatic Data Processing by 29.6% during the first quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider's stock valued at $173,000 after acquiring an additional 129 shares during the period. GAMMA Investing LLC increased its stake in Automatic Data Processing by 13.8% during the first quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider's stock valued at $2,901,000 after acquiring an additional 1,148 shares during the period. Toronto Dominion Bank increased its stake in Automatic Data Processing by 10.2% during the fourth quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock valued at $69,290,000 after acquiring an additional 21,910 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider's stock valued at $76,638,000 after acquiring an additional 20,467 shares during the period. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Down 1.1%

ADP traded down $3.27 during mid-day trading on Thursday, reaching $301.68. The stock had a trading volume of 1,074,374 shares, compared to its average volume of 1,547,132. The stock has a market capitalization of $122.19 billion, a P/E ratio of 30.23, 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 quick ratio of 1.05 and a current ratio of 1.05. The firm's fifty day simple moving average is $306.24 and its two-hundred day simple moving average is $305.55. Automatic Data Processing, Inc. has a 52 week low of $261.86 and a 52 week high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on 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. Mizuho upped their price objective 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. BMO Capital Markets upgraded 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. Stifel Nicolaus upped their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the company a "hold" rating in a research note on Thursday, July 31st. Finally, UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $314.33.

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.