Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Increased by Resonant Capital Advisors LLC

by · The Markets Daily

Resonant Capital Advisors LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,958 shares of the business services provider’s stock after purchasing an additional 366 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Automatic Data Processing were worth $4,284,000 as of its most recent filing with the SEC.

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

Automatic Data Processing Price Performance

Shares of ADP stock opened at $305.05 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. 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’s 50 day moving average is $311.57 and its 200-day moving average is $303.25. The firm has a market capitalization of $123.83 billion, a price-to-earnings ratio of 31.22, a PEG ratio of 2.88 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (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 the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th were given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, June 13th. Automatic Data Processing’s dividend payout ratio is 63.05%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. UBS Group lowered their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research note on Friday, June 13th. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Morgan Stanley boosted their price target on 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. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $307.08.

Check Out Our Latest Analysis on ADP

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president directly owned 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.21% of the company’s stock.

About Automatic Data Processing

(Free Report)

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.

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