Gateway Investment Advisers LLC Reduces Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gateway Investment Advisers LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,004 shares of the business services provider’s stock after selling 278 shares during the period. Gateway Investment Advisers LLC’s holdings in Automatic Data Processing were worth $43,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $39,000. Raleigh Capital Management Inc. raised its holdings in shares of 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 acquiring an additional 89 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $41,000. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $2.39 during midday trading on Tuesday, hitting $246.81. The company had a trading volume of 386,923 shares, compared to its average volume of 1,663,760. The firm has a 50-day moving average price of $245.99 and a 200-day moving average price of $243.70. The company has a current ratio of 1.01, a quick 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. The company has a market capitalization of $101.02 billion, a PE ratio of 27.81, a P/E/G ratio of 2.73 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm earned $2.52 EPS. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business 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. This represents a $5.60 annualized dividend and a yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research 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. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Two 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 data from MarketBeat, the company has an average rating of “Hold” and an average target price of $255.42.

Check Out Our Latest Research Report on Automatic Data Processing

Automatic Data Processing Company Profile

(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.

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

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