Roble Belko & Company Inc Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Roble Belko & Company Inc reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 7.3% during the 1st quarter, HoldingsChannel reports. The fund owned 761 shares of the business services provider’s stock after selling 60 shares during the period. Roble Belko & Company Inc’s holdings in Automatic Data Processing were worth $190,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Automatic Data Processing by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after acquiring an additional 412,434 shares in the last quarter. Wellington Management Group LLP lifted its stake in Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after buying an additional 249,566 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after buying an additional 553,946 shares in the last quarter. Capital Research Global Investors lifted its stake in Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after buying an additional 649,791 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Automatic Data Processing by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 2,125,551 shares of the business services provider’s stock valued at $494,552,000 after buying an additional 99,731 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.8 %

Shares of NASDAQ ADP traded up $1.91 during midday trading on Friday, reaching $247.97. 3,022,851 shares of the stock were exchanged, compared to its average volume of 1,362,978. The company has a 50 day simple moving average of $245.89 and a 200 day simple moving average of $243.48. The stock has a market capitalization of $101.49 billion, a P/E ratio of 27.68, a PEG ratio of 2.70 and a beta of 0.78. 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 twelve month low of $205.53 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.52 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. JPMorgan Chase & Co. decreased 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. Barclays raised 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. TD Cowen decreased 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. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $255.42.

Read Our Latest Research Report on ADP

About Automatic Data Processing

(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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