Virtu Financial LLC Has $1.58 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Virtu Financial LLC increased its holdings in Automatic Data Processing, Inc. by 339.6% during the first quarter, owning a total of 5,156 shares valued at $1,575,000.
• Automatic Data Processing reported earnings per share (EPS) of $2.26 for the last quarter, exceeding analysts' expectations of $2.23 and marking a 6.3% year-over-year revenue increase.
• The company announced a quarterly dividend of $1.54 per share, reflecting a dividend yield of 2.0% and a payout ratio of 61.72%.

Virtu Financial LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 339.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,156 shares of the business services provider's stock after purchasing an additional 3,983 shares during the period. Virtu Financial LLC's holdings in Automatic Data Processing were worth $1,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. von Borstel & Associates Inc. acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at $30,000. Main Street Group LTD lifted its stake in shares of Automatic Data Processing by 50.7% in the 4th 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 during the last quarter. Y.D. More Investments Ltd acquired a new position in Automatic Data Processing during the 1st quarter worth $35,000. Abound Wealth Management lifted its position in Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares during the last quarter. Finally, Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the 4th quarter worth $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. 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. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research report on Friday, June 13th. Mizuho boosted their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock 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 objective on shares of Automatic Data Processing in a report on Thursday, June 5th. Finally, TD Securities boosted their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. One equities 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 company's stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $314.33.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.09 on Friday, reaching $301.59. The company's stock had a trading volume of 450,423 shares, compared to its average volume of 1,738,525. The firm has a market cap of $122.16 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81. The business has a 50-day moving average price of $306.24 and a 200 day moving average price of $305.55. Automatic Data Processing, Inc. has a 52 week low of $262.21 and a 52 week high of $329.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.64.

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 for the quarter, beating analysts' consensus estimates of $2.23 by $0.03. The business had revenue of $5.13 billion for the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 12th will be given a $1.54 dividend. The ex-dividend date is Friday, September 12th. 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%.

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.