Financial Engines Advisors L.L.C. Has $4.32 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Financial Engines Advisors L.L.C. increased its stake in Automatic Data Processing, Inc. by 15.9%, bringing its total holding to 14,123 shares worth approximately $4.3 million.
• Automatic Data Processing reported a quarterly earnings per share of $2.26, exceeding estimates and showing a 6.3% revenue increase year-over-year.
• The company announced a quarterly dividend of $1.54 per share, reflecting an annualized yield of 2.0% and a payout ratio of 61.72%.

Financial Engines Advisors L.L.C. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,123 shares of the business services provider's stock after purchasing an additional 1,941 shares during the period. Financial Engines Advisors L.L.C.'s holdings in Automatic Data Processing were worth $4,315,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Automatic Data Processing by 92.1% during the fourth quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider's stock worth $2,935,000 after acquiring an additional 4,808 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $957,000. Scotia Capital Inc. lifted its stake in Automatic Data Processing by 4.6% during the fourth quarter. Scotia Capital Inc. now owns 4,016 shares of the business services provider's stock valued at $1,176,000 after buying an additional 178 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $1,932,000. Finally, Advisors Capital Management LLC lifted its position in shares of Automatic Data Processing by 0.3% in the fourth quarter. Advisors Capital Management LLC now owns 16,105 shares of the business services provider's stock worth $4,715,000 after purchasing an additional 48 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ADP. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a report on Friday, June 13th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Mizuho increased their price target on Automatic Data Processing from $321.00 to $332.00 and gave the company an "outperform" rating in a report on Friday, June 13th. Finally, Morgan Stanley increased their price objective 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. One equities 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's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $0.27 during midday trading on Friday, reaching $301.95. 804,599 shares of the company traded hands, compared to its average volume of 1,740,147. Automatic Data Processing, Inc. has a 12 month low of $262.21 and a 12 month high of $329.93. The firm has a market cap of $122.30 billion, a PE ratio of 30.26, a PEG 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 stock's 50-day simple moving average is $306.24 and its 200-day simple moving average is $305.55.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued 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. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. During the same quarter last year, the business earned $2.09 earnings per share. The company's revenue was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be issued 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 payout ratio is 61.72%.

About Automatic Data Processing

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.