Ritholtz Wealth Management grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ: ADP – Get Rating) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,408 shares of the business services provider’s stock after buying an additional 644 shares during the period. Ritholtz Wealth Management’s holdings in Automatic Data Processing were worth $ 775,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Gilman Hill Asset Management LLC lifted its holdings in shares of Automatic Data Processing by 2.8% during the fourth quarter. Gilman Hill Asset Management LLC now owns 1,620 shares of the business services provider’s stock worth $ 399,000 after purchasing an additional 44 shares during the period. First Hawaiian Bank lifted its holdings in Automatic Data Processing by 1.1% during the 1st quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider’s stock worth $ 950,000 after buying an additional 45 shares during the period. Baystate Wealth Management LLC grew its position in shares of Automatic Data Processing by 3.2% in the 4th quarter. Baystate Wealth Management LLC now owns 1,482 shares of the business services provider’s stock valued at $ 366,000 after buying an additional 46 shares during the last quarter. Horan Capital Advisors LLC. increased its stake in shares of Automatic Data Processing by 0.3% in the fourth quarter. Horan Capital Advisors LLC. now owns 14,361 shares of the business services provider’s stock valued at $ 3,541,000 after buying an additional 49 shares during the period. Finally, Wealth Architects LLC raised its position in shares of Automatic Data Processing by 1.8% during the fourth quarter. Wealth Architects LLC now owns 2,815 shares of the business services provider’s stock worth $ 694,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 78.84% of the company stock.
Several research analysts have issued reports on the stock. Barclays raised their price target on shares of Automatic Data Processing from $ 238.00 to $ 257.00 and gave the stock an “overweight” rating in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Automatic Data Processing from $ 203.00 to $ 234.00 in a report on Thursday, April 28th. Citigroup increased their price target on Automatic Data Processing from $ 212.00 to $ 230.00 in a report on Monday, May 2nd. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and set a $ 223.00 price objective on the stock in a research note on Wednesday, March 9th. Finally, Mizuho raised their target price on Automatic Data Processing from $ 235.00 to $ 250.00 and gave the stock a “buy” rating in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $ 230.69.
In related news, VP Deborah L. Dyson sold 2,787 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $ 234.55, for a total transaction of $ 653,690.85. Following the transaction, the vice president now directly owns 26,663 shares in the company, valued at $ 6,253,806.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $ 214.07, for a total transaction of $ 66,789.84. Following the completion of the sale, the vice president now owns 1,663 shares of the company stock, valued at approximately $ 355,998.41. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.
NASDAQ ADP opened at $ 218.79 on Monday. The company has a market cap of $ 91.40 billion, a P / E ratio of 32.32, a PEG ratio of 2.62 and a beta of 0.82. The company has a fifty day simple moving average of $ 216.22 and a 200 day simple moving average of $ 219.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.71. Automatic Data Processing, Inc. has a 12-month low of $ 192.26 and a 12-month high of $ 248.96.
Automatic Data Processing (NASDAQ: ADP – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The business services provider reported $ 2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.07 by $ 0.14. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The firm had revenue of $ 4.51 billion during the quarter, compared to analysts’ expectations of $ 4.45 billion. During the same period last year, the company earned $ 1.89 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 6.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be paid a $ 1.04 dividend. This represents a $ 4.16 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, June 9th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.45%.
Automatic Data Processing Company Profile: (Get Rating)
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.
Receive News & Ratings for Automatic Data Processing Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Automatic Data Processing and related companies with MarketBeat.com’s FREE daily email newsletter.