Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Raub Brock Capital Management LP

Raub Brock Capital Management LP cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,647 shares of the business services provider’s stock after selling 2,582 shares during the quarter. Automatic Data Processing comprises 3.6% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Raub Brock Capital Management LP’s holdings in Automatic Data Processing were worth $17,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at about $35,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at about $39,000. Raleigh Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $41,000. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. TD Cowen decreased their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, Barclays upped their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ:ADP traded down $0.47 during trading hours on Tuesday, reaching $235.20. The stock had a trading volume of 195,509 shares, compared to its average volume of 1,686,898. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The firm’s 50 day moving average is $245.79 and its 200-day moving average is $243.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $96.27 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the firm posted $2.52 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) 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.