2,100 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by BlueChip Wealth Advisors LLC

BlueChip Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,100 shares of the business services provider’s stock, valued at approximately $489,000.

A number of other hedge funds have also added to or reduced their stakes in ADP. Fortitude Family Office LLC purchased a new position in Automatic Data Processing during the 4th quarter valued at $35,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $39,000. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $41,000. Raleigh Capital Management Inc. boosted its holdings in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.34 during midday trading on Monday, reaching $244.96. 1,347,825 shares of the stock traded hands, compared to its average volume of 1,669,206. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $100.26 billion, a PE ratio of 27.34, a P/E/G ratio of 2.67 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 company’s 50 day moving average is $245.91 and its 200 day moving average is $243.18.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating 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 firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the company earned $2.52 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ADP shares. Mizuho upped their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. TD Cowen cut their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. 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 report on Tuesday, March 26th. Barclays upped their price target on 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 downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $255.42.

About Automatic Data Processing

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.