Sunpointe LLC Acquires Shares of 2,125 Automatic Data Processing, Inc. (NASDAQ:ADP)

Sunpointe LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,125 shares of the business services provider’s stock, valued at approximately $498,000.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $35,000. Raleigh Capital Management Inc. lifted its position in 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 worth $42,000 after purchasing an additional 89 shares during the period. Evolution Advisers Inc. bought a new stake in Automatic Data Processing during the fourth quarter worth about $41,000. Bfsg LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $42,000. Finally, Vestor Capital LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $44,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Barclays increased their target price 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. 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. JPMorgan Chase & Co. lowered their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $255.42.

Check Out Our Latest Analysis on ADP

Automatic Data Processing Stock Down 0.7 %

Shares of ADP traded down $1.65 during trading hours on Friday, reaching $242.62. The stock had a trading volume of 1,106,910 shares, compared to its average volume of 1,672,130. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The firm has a 50-day simple moving average of $245.95 and a 200 day simple moving average of $242.88. 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 company has a market capitalization of $99.30 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 2.71 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the business earned $2.52 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

About Automatic Data Processing

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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