Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Golden State Wealth Management LLC

Golden State Wealth Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 565 shares of the business services provider’s stock after buying an additional 129 shares during the quarter. Golden State Wealth Management LLC’s holdings in Automatic Data Processing were worth $173,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Main Street Group LTD raised its stake in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares during the period. Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 shares during the last quarter. Abound Wealth Management raised its position in shares of Automatic Data Processing by 58.1% during the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.3%

Shares of NASDAQ:ADP opened at $308.96 on Friday. The company has a 50 day moving average of $312.20 and a 200-day moving average of $303.53. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a market cap of $125.41 billion, a P/E ratio of 31.62, a P/E/G ratio of 2.87 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 13th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the sale, the vice president directly owned 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. TD Securities upped their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. UBS Group reduced their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. Mizuho increased their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley boosted their target price on shares of Automatic Data Processing from $305.00 to $310.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $307.08.

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.