Gilman Hill Asset Management LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gilman Hill Asset Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.5% during the second quarter, Holdings Channel.com reports. The firm owned 1,768 shares of the business services provider’s stock after purchasing an additional 224 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Automatic Data Processing were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADP. TD Asset Management Inc boosted its stake in shares of Automatic Data Processing by 14.2% during the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after acquiring an additional 99,515 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $2,924,000. Everence Capital Management Inc. boosted its stake 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 worth $3,995,000 after acquiring an additional 3,800 shares in the last quarter. Finally, LVW Advisors LLC boosted its stake in shares of Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.2 %

Shares of ADP stock traded down $0.61 on Friday, reaching $262.18. 1,462,311 shares of the stock were exchanged, compared to its average volume of 1,693,371. The stock has a market cap of $107.31 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $246.78 and a two-hundred day moving average of $246.63. 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 released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.01 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.14%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, TD Cowen cut their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $262.18.

About Automatic Data Processing

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.