Harbor Investment Advisory LLC Buys 186 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Harbor Investment Advisory LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,302 shares of the business services provider’s stock after buying an additional 186 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Automatic Data Processing were worth $1,074,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Everence Capital Management Inc. lifted its stake in shares of 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 valued at $3,995,000 after purchasing an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $1,635,000. Bellecapital International Ltd. lifted its stake in shares of 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 valued at $5,066,000 after purchasing an additional 596 shares during the period. Finally, Marks Group Wealth Management Inc purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $4,015,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $249.20 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm has a market capitalization of $102.00 billion, a P/E ratio of 27.81, a PEG ratio of 2.73 and a beta of 0.78. The business has a fifty day moving average of $245.99 and a 200 day moving average of $243.70.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping 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 company had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the company posted $2.52 earnings per share. Automatic Data Processing’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Announces Dividend

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. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of research firms have recently commented on ADP. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Barclays lifted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Company 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.