Automatic Data Processing, Inc. (NASDAQ:ADP) Position Boosted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,598 shares of the business services provider’s stock after acquiring an additional 63 shares during the period. EverSource Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $372,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Ardent Capital Management Inc. bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth $392,000. Americana Partners LLC raised its position in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after acquiring an additional 660 shares in the last quarter. Everence Capital Management Inc. lifted its holdings in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its position in shares of Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ADP. JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Mizuho increased their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Down 1.0 %

Shares of ADP traded down $2.41 during midday trading on Friday, hitting $249.08. The stock had a trading volume of 80,225 shares, compared to its average volume of 1,677,216. The firm has a market cap of $101.95 billion, a price-to-earnings ratio of 28.07, a price-to-earnings-growth ratio of 2.79 and a beta of 0.78. The company has a 50 day simple moving average of $246.04 and a two-hundred day simple moving average of $240.98. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the firm earned $2.52 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.25%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

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.