MainStreet Investment Advisors LLC Buys Shares of 4,153 Automatic Data Processing (NASDAQ:ADP)

MainStreet Investment Advisors LLC bought a new stake in Automatic Data Processing (NASDAQ:ADP) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,153 shares of the business services provider’s stock, valued at approximately $568,000.

Other hedge funds also recently made changes to their positions in the company. Klingenstein Fields & Co. LLC lifted its holdings in shares of Automatic Data Processing by 1.4% in the 4th quarter. Klingenstein Fields & Co. LLC now owns 4,257 shares of the business services provider’s stock valued at $726,000 after buying an additional 57 shares during the period. Iberiabank Corp lifted its holdings in shares of Automatic Data Processing by 2.4% in the 4th quarter. Iberiabank Corp now owns 2,546 shares of the business services provider’s stock valued at $434,000 after buying an additional 59 shares during the period. Corundum Group Inc. lifted its holdings in shares of Automatic Data Processing by 3.9% in the 4th quarter. Corundum Group Inc. now owns 1,584 shares of the business services provider’s stock valued at $270,000 after buying an additional 60 shares during the period. Shine Investment Advisory Services Inc. lifted its holdings in shares of Automatic Data Processing by 9.4% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 734 shares of the business services provider’s stock valued at $125,000 after buying an additional 63 shares during the period. Finally, Beaumont Financial Partners LLC lifted its holdings in shares of Automatic Data Processing by 1.7% in the 4th quarter. Beaumont Financial Partners LLC now owns 3,995 shares of the business services provider’s stock valued at $681,000 after buying an additional 65 shares during the period. Institutional investors own 80.30% of the company’s stock.

ADP has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Automatic Data Processing from $150.00 to $155.00 and gave the company a “hold” rating in a report on Thursday, April 30th. Credit Suisse Group reaffirmed a “buy” rating and set a $190.00 price objective on shares of Automatic Data Processing in a report on Sunday, February 2nd. UBS Group raised Automatic Data Processing from a “sell” rating to a “neutral” rating in a report on Wednesday, April 1st. Morgan Stanley lifted their price objective on Automatic Data Processing from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Citigroup reduced their price objective on Automatic Data Processing from $185.00 to $140.00 and set a “neutral” rating for the company in a report on Tuesday, April 14th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $166.50.

Shares of NASDAQ ADP traded up $1.55 during trading on Friday, reaching $134.87. The company had a trading volume of 2,198,780 shares, compared to its average volume of 2,551,071. Automatic Data Processing has a twelve month low of $103.11 and a twelve month high of $182.32. The stock has a market capitalization of $57.30 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.84. The stock has a 50-day moving average price of $139.02 and a two-hundred day moving average price of $158.29. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.25.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.92. Automatic Data Processing had a return on equity of 47.51% and a net margin of 17.20%. The company had revenue of $4.05 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Automatic Data Processing will post 5.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.70%. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.

In other news, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction on Monday, April 13th. The stock was sold at an average price of $140.23, for a total value of $35,057.50. Following the completion of the transaction, the vice president now directly owns 5,412 shares of the company’s stock, valued at $758,924.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.31% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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