Symphony Financial Ltd. Co. Has $240,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Symphony Financial Ltd. Co. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 960 shares of the business services provider’s stock after selling 192 shares during the period. Symphony Financial Ltd. Co.’s holdings in Automatic Data Processing were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $39,000. Raleigh Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $41,000. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $42,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $1.39 during trading on Friday, reaching $238.69. 2,595,023 shares of the company’s stock were exchanged, compared to its average volume of 1,635,318. The business has a 50 day moving average price of $245.79 and a 200-day moving average price of $243.83. The stock has a market capitalization of $97.69 billion, a P/E ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78. 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, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the business earned $2.52 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. TD Cowen dropped their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating 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, June 18th. Finally, Evercore ISI upped 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.