SNS Financial Group LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

SNS Financial Group LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,359 shares of the business services provider’s stock after selling 247 shares during the period. SNS Financial Group LLC’s holdings in Automatic Data Processing were worth $327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keener Financial Planning LLC boosted its stake in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the first quarter valued at about $36,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $39,000. Finally, MFA Wealth Advisors LLC bought a new position in Automatic Data Processing during the 2nd quarter worth approximately $40,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.1 %

Shares of ADP traded up $0.22 during midday trading on Friday, reaching $269.60. 1,206,702 shares of the stock were exchanged, compared to its average volume of 1,658,561. The company has a market cap of $110.34 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 2.72 and a beta of 0.78. The firm has a 50 day simple moving average of $250.49 and a 200-day simple moving average of $248.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $270.99.

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

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ADP shares. Jefferies Financial Group upped their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $265.36.

About Automatic Data Processing

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.