Park Avenue Securities LLC Sells 106 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Park Avenue Securities LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,950 shares of the business services provider’s stock after selling 106 shares during the period. Park Avenue Securities LLC’s holdings in Automatic Data Processing were worth $2,735,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Everence Capital Management Inc. lifted its holdings in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares in the last quarter. BKM Wealth Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $1,635,000. Bellecapital International Ltd. lifted its stake in Automatic Data Processing by 2.8% in the 4th quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock worth $5,066,000 after purchasing an additional 596 shares in the last quarter. Finally, Marks Group Wealth Management Inc bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $4,015,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Barclays raised their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Mizuho lifted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report 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 stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Price Performance

ADP opened at $247.97 on Friday. 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 business has a fifty day moving average of $245.89 and a 200 day moving average of $243.40. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The stock has a market cap of $101.49 billion, a P/E ratio of 27.68, a PEG ratio of 2.70 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared 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 dividend yield of 2.26%. Automatic Data Processing’s payout ratio is 62.50%.

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.