B. Riley Wealth Advisors Inc. Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

B. Riley Wealth Advisors Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,867 shares of the business services provider’s stock after selling 1,794 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Automatic Data Processing were worth $6,297,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADP. Fortitude Family Office LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $39,000. Raleigh Capital Management Inc. raised its stake in shares of Automatic Data Processing by 106.0% during the third 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 in the last quarter. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $41,000. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $42,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $244.96 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $100.26 billion, a P/E ratio of 27.34, a P/E/G ratio of 2.67 and a beta of 0.78. The business’s 50 day moving average price is $245.91 and its 200-day moving average price is $243.18. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.29%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several brokerages recently commented on ADP. Barclays lifted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on 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. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Profile

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.