Wealth Enhancement Advisory Services LLC Has $57.68 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealth Enhancement Advisory Services LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,964 shares of the business services provider’s stock after selling 69 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of Automatic Data Processing worth $57,681,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heritage Investment Group Inc. boosted its position in shares of Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after purchasing an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. raised its holdings in Automatic Data Processing by 0.8% in the 4th quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after acquiring an additional 42 shares during the last quarter. Argus Investors Counsel Inc. raised its holdings in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after acquiring an additional 43 shares during the last quarter. Morningstar Investment Management LLC raised its holdings in Automatic Data Processing by 1.7% in the 4th quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after acquiring an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in Automatic Data Processing by 1.0% in the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADP shares. JPMorgan Chase & Co. decreased 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 report on Thursday, May 2nd. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Trading Down 0.3 %

Shares of ADP stock opened at $237.30 on Friday. The company has a market cap of $97.12 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 2.61 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average price of $245.98 and a 200-day moving average price of $243.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 EPS. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.18 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.