Successful Portfolios LLC Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Successful Portfolios LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 972 shares of the business services provider’s stock after selling 68 shares during the period. Successful Portfolios LLC’s holdings in Automatic Data Processing were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $35,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing in the 4th quarter valued at $39,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth $41,000. Raleigh Capital Management Inc. grew its position in 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 worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. JPMorgan Chase & Co. lowered 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. Mizuho upped 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. Evercore ISI upped their price objective 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. Barclays upped 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. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $238.69 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average is $245.79 and its two-hundred day moving average is $243.86. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The stock has a market capitalization of $97.69 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released 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 company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.52 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Automatic Data Processing Announces Dividend

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

About Automatic Data Processing

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.