S.E.E.D. Planning Group LLC Purchases 622 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

S.E.E.D. Planning Group LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,507 shares of the business services provider’s stock after acquiring an additional 622 shares during the quarter. S.E.E.D. Planning Group LLC’s holdings in Automatic Data Processing were worth $876,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $35,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $39,000. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $41,000. Raleigh Capital Management Inc. boosted its position in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the period. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $42,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on shares of 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. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, JPMorgan Chase & Co. reduced their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Trading Up 0.6 %

ADP stock traded up $1.39 during trading on Friday, reaching $238.69. 2,595,023 shares of the stock traded hands, compared to its average volume of 1,635,318. The business’s 50 day moving average price is $245.79 and its 200-day moving average price is $243.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $97.69 billion, a PE ratio of 26.64, a P/E/G ratio of 2.61 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the firm posted $2.52 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.