Van Strum & Towne Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,646 shares of the business services provider’s stock after selling 1,425 shares during the quarter. Automatic Data Processing comprises 5.7% of Van Strum & Towne Inc.’s investment portfolio, making the stock its 3rd largest holding. Van Strum & Towne Inc.’s holdings in Automatic Data Processing were worth $11,241,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Chandler Asset Management Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $26,000. Freedman Financial Associates Inc. bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $35,000. Exchange Traded Concepts LLC boosted its position in Automatic Data Processing by 1,005.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 221 shares of the business services provider’s stock worth $39,000 after purchasing an additional 201 shares during the period. Atlas Private Wealth Advisors boosted its position in Automatic Data Processing by 127.6% during the first quarter. Atlas Private Wealth Advisors now owns 223 shares of the business services provider’s stock worth $42,000 after purchasing an additional 125 shares during the period. Finally, Better Money Decisions LLC bought a new stake in Automatic Data Processing during the first quarter worth approximately $43,000. 79.65% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Automatic Data Processing from $150.00 to $173.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. Citigroup upped their price target on Automatic Data Processing from $190.00 to $212.00 in a report on Monday, May 3rd. Morgan Stanley upped their price target on Automatic Data Processing from $171.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 5th. Mizuho assumed coverage on Automatic Data Processing in a report on Wednesday, February 10th. They set a “buy” rating and a $210.00 price target for the company. Finally, Wells Fargo & Company upped their price target on Automatic Data Processing from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Thursday, January 28th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $174.53.
Automatic Data Processing stock opened at $194.64 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a fifty day moving average price of $191.58 and a two-hundred day moving average price of $176.67. Automatic Data Processing, Inc. has a 52-week low of $127.31 and a 52-week high of $197.28. The firm has a market capitalization of $82.82 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.39 and a beta of 0.70.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Tuesday, April 27th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.07. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.08 billion. During the same period in the prior year, the company posted $1.92 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 5.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 11th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, June 10th. This represents a $3.72 annualized dividend and a yield of 1.91%. Automatic Data Processing’s dividend payout ratio is currently 62.84%.
Automatic Data Processing Profile
Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through 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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