Legacy Capital Group California Inc. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,419 shares of the business services provider's stock, valued at approximately $434,000.
Other large investors have also made changes to their positions in the company. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing during the 1st quarter valued at $30,000. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock valued at $33,000 after buying an additional 38 shares in the last quarter. Abound Wealth Management lifted its position in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after buying an additional 43 shares during the last quarter. Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. TD Securities boosted their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Stifel Nicolaus boosted their target price on shares of 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 objective for the company in a research report on Thursday, July 10th. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Mizuho raised their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $314.33.
Check Out Our Latest Research Report on Automatic Data Processing
Automatic Data Processing Price Performance
Shares of ADP stock opened at $301.64 on Thursday. The firm's 50 day moving average price is $308.93 and its two-hundred day moving average price is $305.30. The stock has a market cap of $122.44 billion, a PE ratio of 30.22, a PEG ratio of 2.75 and a beta of 0.81. Automatic Data Processing, Inc. has a 52-week low of $258.51 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results 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. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. During the same period in the prior year, the business posted $2.09 EPS. Automatic Data Processing's revenue was up 6.3% on a year-over-year basis. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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. Shareholders of record on Friday, September 12th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing's payout ratio is 61.72%.
About Automatic Data Processing
(
Free Report)
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.
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