Azimuth Capital Investment Management LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,757 shares of the business services provider’s stock after selling 663 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Automatic Data Processing were worth $10,213,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Sei Investments Co. boosted its position in Automatic Data Processing by 19.3% during the first quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock worth $30,532,000 after purchasing an additional 21,671 shares during the period. Dakota Wealth Management bought a new position in Automatic Data Processing during the first quarter worth $571,000. Zions Bancorporation N.A. boosted its position in Automatic Data Processing by 12.4% during the first quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock worth $103,000 after purchasing an additional 50 shares during the period. Covestor Ltd boosted its position in Automatic Data Processing by 82.8% during the first quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock worth $145,000 after purchasing an additional 288 shares during the period. Finally, Merit Financial Group LLC boosted its position in Automatic Data Processing by 4.4% during the first quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock worth $660,000 after purchasing an additional 121 shares during the period. 79.24% of the stock is currently owned by institutional investors and hedge funds.
Automatic Data Processing Stock Up 1.0 %
Shares of NASDAQ ADP opened at $220.49 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.81. The company has a market cap of $91.09 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.20 and a beta of 0.80. Automatic Data Processing, Inc. has a 12 month low of $196.61 and a 12 month high of $274.92. The stock has a 50-day moving average price of $214.98 and a two-hundred day moving average price of $226.72.
Automatic Data Processing Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Stockholders of record on Friday, June 9th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, June 8th. Automatic Data Processing’s dividend payout ratio is currently 63.86%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Automatic Data Processing in a research report on Friday, June 2nd. They issued a “neutral” rating and a $230.00 target price for the company. Robert W. Baird reduced their target price on shares of Automatic Data Processing from $249.00 to $235.00 in a research report on Thursday, April 27th. Bank of America cut shares of Automatic Data Processing from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $249.00 to $211.00 in a research report on Monday, April 3rd. 888 reissued a “maintains” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. Finally, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $237.25.
Automatic Data Processing Profile
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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