Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Oak Asset Management LLC

Oak Asset Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,745 shares of the business services provider’s stock after acquiring an additional 90 shares during the quarter. Oak Asset Management LLC’s holdings in Automatic Data Processing were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ADP. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $35,000. Pineridge Advisors LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $39,000. Raleigh Capital Management Inc. raised its holdings in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the period. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $41,000. Finally, Bfsg LLC purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

ADP opened at $238.69 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The business has a 50-day moving average of $245.79 and a 200-day moving average of $243.86. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $97.69 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 2.62 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $5.22 billion. During the same period last year, the business earned $2.52 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. TD Cowen reduced their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Mizuho upped their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Barclays raised their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Evercore ISI upped their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus 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.