Apella Capital LLC Has $1.08 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Apella Capital LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,599 shares of the business services provider’s stock after buying an additional 804 shares during the period. Apella Capital LLC’s holdings in Automatic Data Processing were worth $1,079,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heritage Investment Group Inc. boosted its stake in Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after purchasing an additional 41 shares during the period. Bedel Financial Consulting Inc. boosted its stake in shares of Automatic Data Processing by 0.8% during the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after buying an additional 42 shares during the last quarter. Argus Investors Counsel Inc. boosted its stake in shares of Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in shares of Automatic Data Processing by 0.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after buying an additional 43 shares during the last quarter. Finally, Patron Partners LLC boosted its stake in shares of Automatic Data Processing by 1.6% during the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $0.56 during trading hours on Wednesday, hitting $258.91. 2,011,724 shares of the stock were exchanged, compared to its average volume of 1,693,328. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $105.97 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company’s fifty day simple moving average is $245.62 and its two-hundred day simple moving average is $246.22. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $269.49.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business posted $1.89 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.16%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $262.18.

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.