Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Diversified Trust Co

Diversified Trust Co lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,868 shares of the business services provider’s stock after acquiring an additional 1,193 shares during the quarter. Diversified Trust Co’s holdings in Automatic Data Processing were worth $2,594,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ADP. TD Asset Management Inc increased its position in shares of Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the last quarter. SG Americas Securities LLC increased its holdings in Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new position in Automatic Data Processing in the first quarter valued at $2,924,000. Everence Capital Management Inc. raised its stake in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares in the last quarter. Finally, LVW Advisors LLC lifted its holdings in Automatic Data Processing by 23.8% during the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after buying an additional 740 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP traded up $0.14 during mid-day trading on Wednesday, hitting $262.05. 56,431 shares of the company’s stock were exchanged, compared to its average volume of 1,677,199. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $269.49. The business’s 50 day moving average is $247.41 and its two-hundred day moving average is $247.02. The firm has a market capitalization of $107.25 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm earned $1.89 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts expect that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.14%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on ADP shares. Jefferies Financial Group increased their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $262.18.

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.