Applied Capital LLC FL Grows Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Applied Capital LLC FL increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,827 shares of the business services provider’s stock after acquiring an additional 138 shares during the period. Applied Capital LLC FL’s holdings in Automatic Data Processing were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Woodmont Investment Counsel LLC boosted its position in shares of Automatic Data Processing by 5.2% during the first quarter. Woodmont Investment Counsel LLC now owns 4,670 shares of the business services provider’s stock valued at $1,166,000 after buying an additional 230 shares during the period. Tributary Capital Management LLC purchased a new position in shares of Automatic Data Processing during the first quarter valued at approximately $50,000. Claro Advisors LLC purchased a new position in shares of Automatic Data Processing during the first quarter valued at approximately $211,000. BKM Wealth Management LLC boosted its position in shares of Automatic Data Processing by 13.4% during the first quarter. BKM Wealth Management LLC now owns 7,655 shares of the business services provider’s stock valued at $1,912,000 after buying an additional 903 shares during the period. Finally, Diversified Trust Co raised its stake in shares of Automatic Data Processing by 14.7% during the first quarter. Diversified Trust Co now owns 9,675 shares of the business services provider’s stock valued at $2,416,000 after acquiring an additional 1,240 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded down $0.37 during mid-day trading on Tuesday, hitting $235.30. 617,461 shares of the company were exchanged, compared to its average volume of 1,690,247. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day moving average of $245.79 and a 200-day moving average of $243.86. The stock has a market cap of $96.31 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.52 EPS. Analysts expect that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $1.40 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.38%. Automatic Data Processing’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ADP shares. Evercore ISI lifted 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 note on Tuesday, March 26th. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $255.42.

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.