HighPoint Advisor Group LLC Purchases Shares of 13,260 Automatic Data Processing, Inc. (NASDAQ:ADP)

HighPoint Advisor Group LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,260 shares of the business services provider’s stock, valued at approximately $3,238,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $308,321,000. International Assets Investment Management LLC increased its position in Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares in the last quarter. Invesco Ltd. raised its stake in shares of Automatic Data Processing by 40.7% in the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares during the last quarter. Capital Research Global Investors raised its stake in shares of Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock worth $825,487,000 after acquiring an additional 649,791 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Automatic Data Processing by 65.5% during the third quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after purchasing an additional 555,184 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.3 %

Shares of ADP stock traded down $0.75 on Tuesday, hitting $244.21. The stock had a trading volume of 53,105 shares, compared to its average volume of 1,655,521. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a fifty day moving average price of $245.91 and a two-hundred day moving average price of $243.18. The firm has a market cap of $99.95 billion, a P/E ratio of 27.34, a PEG ratio of 2.67 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last posted its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.52 earnings per share. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen cut their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $255.42.

Check Out Our Latest Research Report on ADP

Automatic Data Processing Profile

(Free Report)

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.

Further Reading

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

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