Moloney Securities Asset Management LLC Acquires Shares of 944 Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted by on Apr 14th, 2023

Moloney Securities Asset Management LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 944 shares of the business services provider’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth $30,000. Cowa LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $34,000. Arcus Capital Partners LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at about $43,000. Timber Creek Capital Management LLC acquired a new stake in Automatic Data Processing in the third quarter valued at about $45,000. Finally, Bell Investment Advisors Inc boosted its stake in Automatic Data Processing by 33.8% in the third quarter. Bell Investment Advisors Inc now owns 210 shares of the business services provider’s stock valued at $47,000 after buying an additional 53 shares in the last quarter. 79.24% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of ADP opened at $217.25 on Friday. Automatic Data Processing, Inc. has a 1 year low of $196.61 and a 1 year high of $274.92. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $90.02 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81. The business has a 50-day moving average of $220.01 and a 200-day moving average of $234.51.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the company earned $1.65 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 8.12 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is 66.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America lowered Automatic Data Processing from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $249.00 to $211.00 in a research note on Monday, April 3rd. Wolfe Research raised their price objective on Automatic Data Processing from $220.00 to $225.00 in a research note on Thursday, January 5th. Barclays reduced their price objective on Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a research note on Sunday, January 29th. Mizuho reduced their price objective on Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, January 26th. Finally, JPMorgan Chase & Co. dropped their target price on Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $243.36.

About Automatic Data Processing

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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

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