BKM Wealth Management LLC Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

BKM Wealth Management LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,655 shares of the business services provider’s stock after acquiring an additional 903 shares during the quarter. BKM Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock worth $9,224,713,000 after buying an additional 412,434 shares during the last quarter. Wellington Management Group LLP raised its stake in Automatic Data Processing by 4.8% in the 4th quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock valued at $1,279,570,000 after acquiring an additional 249,566 shares during the period. Ameriprise Financial Inc. raised its stake in Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after acquiring an additional 553,946 shares during the period. Capital Research Global Investors raised its stake in Automatic Data Processing by 22.5% in the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares during the period. Finally, Nordea Investment Management AB raised its stake in Automatic Data Processing by 4.9% in the 4th quarter. Nordea Investment Management AB now owns 2,125,551 shares of the business services provider’s stock valued at $494,552,000 after acquiring an additional 99,731 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on 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. Finally, Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two equities 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 company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.24 during trading on Monday, hitting $236.45. The company had a trading volume of 398,199 shares, compared to its average volume of 1,685,018. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock’s 50-day moving average is $245.79 and its two-hundred day moving average is $243.86. The stock has a market capitalization of $96.78 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 2.62 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.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion during 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 quarter in the prior year, the firm earned $2.52 earnings per share. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Automatic Data Processing Company 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.