DeDora Capital Inc. Buys 650 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

DeDora Capital Inc. raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,612 shares of the business services provider’s stock after acquiring an additional 650 shares during the quarter. DeDora Capital Inc.’s holdings in Automatic Data Processing were worth $652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADP. Norges Bank bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $308,321,000. International Assets Investment Management LLC lifted its holdings in shares of Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after acquiring an additional 930,199 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Automatic Data Processing by 40.7% in the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after acquiring an additional 649,791 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Automatic Data Processing by 65.5% in the third quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after acquiring an additional 555,184 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock worth $965,274 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Down 0.1 %

Shares of NASDAQ:ADP traded down $0.14 during mid-day trading on Friday, hitting $241.89. The company had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The company has a market capitalization of $99.37 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm has a fifty day moving average price of $245.63 and a 200 day moving average price of $239.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.52 earnings per share. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ADP shares. 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. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. 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. Finally, Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing 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.