Hennion & Walsh Asset Management Inc. Has $4.17 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,698 shares of the business services provider’s stock after selling 1,482 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Automatic Data Processing were worth $4,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fortitude Family Office LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $39,000. Raleigh Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $41,000. Finally, Bfsg LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Performance

ADP opened at $238.69 on Friday. The business’s 50-day simple moving average is $245.79 and its 200 day simple moving average is $243.83. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. 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 firm has a market capitalization of $97.69 billion, a PE ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.35%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ADP. TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. reduced their target price on shares of 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. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, Barclays boosted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.