Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Decreased by Stewart & Patten Co. LLC

Stewart & Patten Co. LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,560 shares of the business services provider’s stock after selling 1,076 shares during the period. Automatic Data Processing makes up 3.8% of Stewart & Patten Co. LLC’s holdings, making the stock its 9th biggest position. Stewart & Patten Co. LLC’s holdings in Automatic Data Processing were worth $25,364,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ADP. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $39,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth about $41,000. Raleigh Capital Management Inc. increased its position in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 1.3 %

NASDAQ ADP traded down $3.02 on Monday, hitting $235.67. 2,124,736 shares of the stock were exchanged, compared to its average volume of 1,698,438. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The company has a market cap of $96.46 billion, a PE ratio of 26.32, a PEG ratio of 2.62 and a beta of 0.78. The company has a 50-day moving average price of $245.79 and a 200-day moving average price of $243.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.52 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. TD Cowen reduced their price target 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. JPMorgan Chase & Co. reduced their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Barclays boosted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Evercore ISI boosted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock 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.