M3 Advisory Group LLC Buys New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

M3 Advisory Group LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,308 shares of the business services provider’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Raleigh Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the period. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Bfsg LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.0 %

ADP stock traded up $2.34 during trading on Monday, reaching $244.96. 1,347,825 shares of the stock were exchanged, compared to its average volume of 1,669,206. The firm’s 50 day moving average is $245.91 and its 200 day moving average is $243.18. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. 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 cap of $100.26 billion, a P/E ratio of 27.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.52 earnings per share. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Upgrades and Downgrades

ADP has been the subject of several research reports. JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Barclays lifted 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. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Mizuho lifted 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. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Two equities 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $255.42.

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Automatic Data Processing Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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