Wealthcare Advisory Partners LLC Lowers Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthcare Advisory Partners LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,282 shares of the business services provider’s stock after selling 167 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Automatic Data Processing were worth $1,569,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Everence Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 28.5% in the fourth 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 grew its stake in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after acquiring an additional 5,318 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $1,635,000. Bellecapital International Ltd. raised its stake in shares of Automatic Data Processing by 2.8% in the fourth quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock valued at $5,066,000 after acquiring an additional 596 shares in the last quarter. Finally, Marks Group Wealth Management Inc acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $4,015,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.3 %

NASDAQ:ADP opened at $237.30 on Friday. The company has a market capitalization of $97.12 billion, a PE ratio of 26.48, a P/E/G ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The stock’s 50 day moving average price is $245.98 and its 200 day moving average price is $243.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (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 business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the firm posted $2.52 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.18 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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 payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADP. JPMorgan Chase & Co. cut their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. TD Cowen decreased their price target on shares of 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. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently 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.