Automatic Data Processing (NASDAQ:ADP) Position Boosted by IHT Wealth Management LLC

IHT Wealth Management LLC lifted its position in shares of Automatic Data Processing (NASDAQ:ADP) by 26.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,498 shares of the business services provider’s stock after purchasing an additional 1,353 shares during the period. IHT Wealth Management LLC’s holdings in Automatic Data Processing were worth $674,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Washington Trust Bank lifted its holdings in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after acquiring an additional 12 shares during the period. Guardian Life Insurance Co. of America lifted its holdings in shares of Automatic Data Processing by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after acquiring an additional 12 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Automatic Data Processing by 0.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after acquiring an additional 16 shares during the period. Personal Capital Advisors Corp lifted its holdings in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after acquiring an additional 16 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Automatic Data Processing (NASDAQ:ADP) traded down $0.04 during trading on Thursday, hitting $115.88. 2,534,044 shares of the company’s stock were exchanged, compared to its average volume of 2,883,396. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a market capitalization of $51,450.00, a price-to-earnings ratio of 30.93, a price-to-earnings-growth ratio of 2.96 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the firm earned $0.86 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a dividend of $0.63 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 57.87%.

ADP has been the subject of several research reports. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Deutsche Bank restated a “hold” rating and issued a $102.00 price target on shares of Automatic Data Processing in a research report on Monday, August 21st. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Evercore ISI reiterated an “in-line” rating and set a $115.00 price objective on shares of Automatic Data Processing in a research report on Sunday, August 20th. Finally, Bank of America increased their price objective on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $112.37.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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