Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by LVW Advisors LLC

LVW Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,854 shares of the business services provider’s stock after buying an additional 740 shares during the quarter. LVW Advisors LLC’s holdings in Automatic Data Processing were worth $962,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADP. D.B. Root & Company LLC grew its position in shares of Automatic Data Processing by 1.7% in the 1st quarter. D.B. Root & Company LLC now owns 20,170 shares of the business services provider’s stock valued at $5,037,000 after acquiring an additional 340 shares during the period. Trilogy Capital Inc. acquired a new position in shares of Automatic Data Processing in the first quarter valued at $279,000. Cornerstone Wealth Group LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth about $2,924,000. New Mexico Educational Retirement Board boosted its holdings in shares of Automatic Data Processing by 13.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 24,443 shares of the business services provider’s stock worth $5,562,000 after buying an additional 2,900 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Automatic Data Processing by 3.0% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 12,332 shares of the business services provider’s stock worth $3,080,000 after buying an additional 362 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. TD Cowen decreased their target price on 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 Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Mizuho raised their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $238.69 on Monday. The company has a market capitalization of $97.69 billion, a PE ratio of 26.64, a P/E/G ratio of 2.62 and a beta of 0.78. The firm has a fifty day simple moving average of $245.79 and a 200 day simple moving average of $243.86. 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, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its 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. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.52 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.16 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. Investors 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 2.35%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.