Dash Acquisitions Inc. Buys 1,872 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Dash Acquisitions Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,725 shares of the business services provider’s stock after purchasing an additional 1,872 shares during the period. Automatic Data Processing makes up approximately 3.4% of Dash Acquisitions Inc.’s holdings, making the stock its 14th biggest position. Dash Acquisitions Inc.’s holdings in Automatic Data Processing were worth $10,864,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Heritage Investment Group Inc. boosted its holdings in Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after purchasing an additional 41 shares during the period. Bedel Financial Consulting Inc. boosted its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after purchasing an additional 42 shares during the period. Argus Investors Counsel Inc. boosted its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares during the period. Morningstar Investment Management LLC boosted its holdings in Automatic Data Processing by 1.7% in the 4th quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock valued at $634,000 after purchasing an additional 46 shares during the period. Finally, Simon Quick Advisors LLC boosted its holdings in Automatic Data Processing by 1.0% in the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock valued at $1,067,000 after purchasing an additional 47 shares during the period. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. dropped 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 research report on Thursday, May 2nd. TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Finally, Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ:ADP traded up $0.96 during trading on Tuesday, reaching $236.63. The stock had a trading volume of 1,227,383 shares, compared to its average volume of 1,695,088. The firm’s fifty day moving average is $245.58 and its 200 day moving average is $243.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The stock has a market cap of $96.85 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS 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 company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm posted $2.52 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.37%. The ex-dividend date was Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.