IMS Capital Management boosted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 5.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,449 shares of the business services provider’s stock after purchasing an additional 167 shares during the quarter. IMS Capital Management’s holdings in Automatic Data Processing were worth $551,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. lifted its position in Automatic Data Processing by 12.6% during the first quarter. ZWJ Investment Counsel Inc. now owns 8,007 shares of the business services provider’s stock worth $1,279,000 after purchasing an additional 893 shares during the period. Pecaut & CO. bought a new stake in Automatic Data Processing during the first quarter worth about $252,000. Full Sail Capital LLC bought a new stake in Automatic Data Processing during the first quarter worth about $518,000. Meridian Wealth Management LLC bought a new stake in Automatic Data Processing during the first quarter worth about $56,000. Finally, Altfest L J & Co. Inc. bought a new stake in Automatic Data Processing during the first quarter worth about $215,000. 79.71% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research report on Thursday, May 9th. BidaskClub cut shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Barclays upped their price objective on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Tuesday, April 30th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Buy” and an average price target of $166.89.
In other Automatic Data Processing news, insider Jan Siegmund sold 27,272 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the transaction, the insider now directly owns 77,595 shares in the company, valued at approximately $12,803,175. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donald Weinstein sold 1,706 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total value of $281,507.06. Following the transaction, the vice president now owns 26,220 shares in the company, valued at $4,326,562.20. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
Shares of NASDAQ ADP opened at $165.54 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $72.05 billion, a price-to-earnings ratio of 38.06, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92. Automatic Data Processing has a 12 month low of $121.40 and a 12 month high of $168.87.
Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 EPS. On average, sell-side analysts predict that Automatic Data Processing will post 5.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 72.64%.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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