Verdence Capital Advisors LLC Has $2.03 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Verdence Capital Advisors LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,503 shares of the business services provider’s stock after selling 96 shares during the period. Verdence Capital Advisors LLC’s holdings in Automatic Data Processing were worth $2,030,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Linden Thomas Advisory Services LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $262,000. K.J. Harrison & Partners Inc acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $1,071,000. Citizens Financial Group Inc. RI grew its position in Automatic Data Processing by 18.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 22,401 shares of the business services provider’s stock worth $5,219,000 after acquiring an additional 3,555 shares during the last quarter. Russell Investments Group Ltd. raised its position in Automatic Data Processing by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 430,712 shares of the business services provider’s stock valued at $100,326,000 after purchasing an additional 44,191 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT boosted its stake in Automatic Data Processing by 1.2% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 12,966 shares of the business services provider’s stock worth $3,021,000 after purchasing an additional 158 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Barclays lifted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. TD Cowen reduced their target price on shares of 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. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $271.35 on Tuesday. The company has a market capitalization of $111.06 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $271.86. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50 day moving average price is $251.01 and its two-hundred day moving average price is $248.29.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. On average, analysts expect that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.06%. Automatic Data Processing’s payout ratio is presently 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.