GHP Investment Advisors Inc. increased its stake in Automatic Data Processing (NASDAQ:ADP) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 28,763 shares of the business services provider’s stock after buying an additional 61 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Automatic Data Processing were worth $4,755,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ADP. Horan Capital Advisors LLC. bought a new stake in Automatic Data Processing in the 1st quarter valued at about $31,000. C J Advisory Inc bought a new stake in Automatic Data Processing in the 1st quarter valued at about $32,000. Cypress Capital Management LLC WY raised its stake in Automatic Data Processing by 257.1% in the 1st quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 144 shares during the period. Permanens Capital L.P. bought a new stake in Automatic Data Processing in the 1st quarter valued at about $32,000. Finally, Mackey Komara & Dankovich LLC bought a new stake in Automatic Data Processing in the 1st quarter valued at about $33,000. 80.23% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on ADP. Morgan Stanley boosted their price objective on Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday. ValuEngine cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $174.10.
Shares of ADP stock traded up $1.95 during trading on Friday, hitting $167.02. The company had a trading volume of 1,339,600 shares, compared to its average volume of 2,121,209. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The stock’s 50-day moving average is $165.82 and its two-hundred day moving average is $160.00. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 2.05 and a beta of 0.91. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $172.00.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share. On average, research analysts predict that Automatic Data Processing will post 6.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.
In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the sale, the vice president now owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by corporate insiders.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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