Signet Financial Management LLC Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Signet Financial Management LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,223 shares of the business services provider’s stock after buying an additional 126 shares during the period. Signet Financial Management LLC’s holdings in Automatic Data Processing were worth $805,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Everence Capital Management Inc. increased its position 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 last quarter. Cyndeo Wealth Partners LLC increased its position 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 last quarter. BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $1,635,000. Bellecapital International Ltd. increased its position 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 last quarter. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $4,015,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.3 %

ADP stock opened at $237.30 on Friday. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market capitalization of $97.12 billion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 2.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average of $245.98 and a 200-day moving average of $243.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.52 EPS. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.18 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.36%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

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