Transcendent Capital Group LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Transcendent Capital Group LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 333 shares of the business services provider’s stock, valued at approximately $78,000.

Several other institutional investors have also bought and sold shares of ADP. Pineridge Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter valued at $39,000. Tortoise Investment Management LLC raised its position in shares of Automatic Data Processing by 9.9% during the fourth quarter. Tortoise Investment Management LLC now owns 524 shares of the business services provider’s stock worth $122,000 after acquiring an additional 47 shares during the last quarter. EP Wealth Advisors LLC raised its position in shares of Automatic Data Processing by 13.6% during the fourth quarter. EP Wealth Advisors LLC now owns 14,532 shares of the business services provider’s stock worth $3,385,000 after acquiring an additional 1,739 shares during the last quarter. Syon Capital LLC raised its position in shares of Automatic Data Processing by 19.8% during the fourth quarter. Syon Capital LLC now owns 4,515 shares of the business services provider’s stock worth $1,052,000 after acquiring an additional 747 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $160,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.1 %

Shares of ADP stock traded down $0.25 on Friday, hitting $242.62. 1,106,921 shares of the stock were exchanged, compared to its average volume of 1,359,823. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $99.30 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.68 and a beta of 0.78. The business has a 50-day moving average of $245.95 and a 200 day moving average of $242.88. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.31%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ADP. JPMorgan Chase & Co. dropped their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $255.42.

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.