Fifth Third Wealth Advisors LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fifth Third Wealth Advisors LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 408.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,519 shares of the business services provider’s stock after purchasing an additional 3,631 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,079,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Heritage Investment Group Inc. lifted its stake in shares of Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. raised its holdings in Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after acquiring an additional 42 shares during the period. Prestige Wealth Management Group LLC lifted its position in shares of Automatic Data Processing by 0.8% in the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after acquiring an additional 43 shares in the last quarter. Patron Partners LLC boosted its stake in shares of Automatic Data Processing by 1.6% in the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares during the period. Finally, Morningstar Investment Management LLC grew its position in shares of Automatic Data Processing by 1.7% during the fourth quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after purchasing an additional 46 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 1.3 %

Shares of NASDAQ:ADP traded up $3.31 during trading on Wednesday, reaching $267.85. The company’s stock had a trading volume of 1,305,143 shares, compared to its average volume of 1,664,799. The firm’s 50 day simple moving average is $249.44 and its two-hundred day simple moving average is $247.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $269.49. The stock has a market capitalization of $109.63 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

ADP has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $265.36.

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.