Allworth Financial LP Lowers Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Allworth Financial LP lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 1.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,790 shares of the business services provider’s stock after selling 81 shares during the quarter. Allworth Financial LP’s holdings in Automatic Data Processing were worth $1,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $30,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $33,000. CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Rebalance LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Finally, Arcus Capital Partners LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 78.57% of the company’s stock.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on ADP shares. Deutsche Bank Aktiengesellschaft decreased their price target on Automatic Data Processing from $234.00 to $213.00 in a research note on Thursday, April 27th. Barclays cut their price objective on Automatic Data Processing from $278.00 to $275.00 in a research report on Monday, May 1st. Mizuho cut their price objective on Automatic Data Processing from $275.00 to $255.00 in a research report on Monday, May 1st. 888 restated a “maintains” rating on shares of Automatic Data Processing in a research report on Thursday, April 27th. Finally, Robert W. Baird cut their price objective on Automatic Data Processing from $249.00 to $235.00 in a research report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $237.25.

Automatic Data Processing Trading Up 1.5 %

Shares of ADP opened at $219.79 on Friday. The stock has a fifty day moving average of $215.60 and a two-hundred day moving average of $223.27. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $90.80 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.20 and a beta of 0.80. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Free Report) last announced its quarterly earnings data on Wednesday, April 26th. The business services provider reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.10. Automatic Data Processing had a net margin of 18.46% and a return on equity of 104.60%. The company had revenue of $4.93 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the company earned $2.21 EPS. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 8.16 EPS 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 paid a dividend of $1.25 per share. The ex-dividend date is Thursday, June 8th. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is presently 63.86%.

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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