Somerset Trust Co Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Somerset Trust Co boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,029 shares of the business services provider’s stock after buying an additional 366 shares during the quarter. Automatic Data Processing makes up about 1.9% of Somerset Trust Co’s holdings, making the stock its 16th biggest position. Somerset Trust Co’s holdings in Automatic Data Processing were worth $4,752,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CWM LLC lifted its stake in Automatic Data Processing by 1.9% in the 1st quarter. CWM LLC now owns 18,197 shares of the business services provider’s stock valued at $4,544,000 after buying an additional 334 shares in the last quarter. Duncan Williams Asset Management LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at $292,000. General Partner Inc. raised its holdings in Automatic Data Processing by 80.6% in the 1st quarter. General Partner Inc. now owns 858 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 383 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Automatic Data Processing in the 4th quarter valued at $1,933,000. Finally, HighPoint Advisor Group LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at $3,238,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.2 %

NASDAQ:ADP traded down $0.55 on Wednesday, reaching $244.41. The stock had a trading volume of 1,005,014 shares, compared to its average volume of 1,379,345. 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 12-month low of $205.53 and a 12-month high of $256.84. The company has a 50-day moving average of $245.80 and a 200 day moving average of $243.27. The stock has a market cap of $100.03 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the company posted $2.52 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts predict 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. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

Several research analysts have weighed in on ADP shares. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Company 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.