Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Cut by Stokes Capital Advisors LLC

Stokes Capital Advisors LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,850 shares of the business services provider’s stock after selling 700 shares during the quarter. Stokes Capital Advisors LLC’s holdings in Automatic Data Processing were worth $462,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Everence Capital Management Inc. lifted its position in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter valued at $1,635,000. Bellecapital International Ltd. lifted its position in shares of Automatic Data Processing by 2.8% during the 4th quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock valued at $5,066,000 after acquiring an additional 596 shares during the last quarter. Finally, Marks Group Wealth Management Inc purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at $4,015,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ADP shares. TD Cowen reduced their target price 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. JPMorgan Chase & Co. cut 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. Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Mizuho increased their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. 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 issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Performance

ADP traded up $2.90 on Friday, hitting $240.20. 347,353 shares of the stock traded hands, compared to its average volume of 1,676,893. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $98.31 billion, a PE ratio of 26.86, a P/E/G ratio of 2.61 and a beta of 0.78. The business has a fifty day moving average price of $245.98 and a two-hundred day moving average price of $243.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.52 earnings per share. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.18 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

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.