Hayden Royal LLC Acquires New Shares in Automatic Data Processing (NASDAQ:ADP)

Hayden Royal LLC acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,106 shares of the business services provider’s stock, valued at approximately $349,000.

Several other large investors also recently added to or reduced their stakes in the stock. Enterprise Financial Services Corp boosted its holdings in shares of Automatic Data Processing by 2.0% in the 1st quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock worth $514,000 after purchasing an additional 64 shares in the last quarter. Berman Capital Advisors LLC lifted its stake in shares of Automatic Data Processing by 2.5% in the 1st quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock valued at $443,000 after acquiring an additional 67 shares during the last quarter. Ellevest Inc. lifted its stake in shares of Automatic Data Processing by 34.6% in the 1st quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 71 shares during the last quarter. CX Institutional lifted its stake in shares of Automatic Data Processing by 3.0% in the 2nd quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after acquiring an additional 73 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of Automatic Data Processing by 3.0% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 78 shares during the last quarter. Institutional investors own 80.23% of the company’s stock.

Shares of NASDAQ:ADP opened at $168.71 on Wednesday. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $172.00. The company has a market cap of $73.43 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 2.10 and a beta of 0.91. The stock has a 50 day moving average price of $165.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the company earned $0.99 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

In other news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the completion of the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

A number of research firms have recently weighed in on ADP. Robert W. Baird boosted their target price on Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Sanford C. Bernstein lowered Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Citigroup upped their price target on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $174.11.

Automatic Data Processing Company 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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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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