Alpha Omega Wealth Management LLC Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alpha Omega Wealth Management LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% in the second quarter, HoldingsChannel.com reports. The firm owned 1,258 shares of the business services provider’s stock after acquiring an additional 65 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Automatic Data Processing were worth $300,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares during the period. Wellington Management Group LLP raised its position in Automatic Data Processing by 4.8% in the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after acquiring an additional 249,566 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after purchasing an additional 81,869 shares in the last quarter. Nordea Investment Management AB increased its holdings in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after buying an additional 589,831 shares in the last quarter. Finally, Ninety One UK Ltd lifted its position in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Ninety One UK Ltd now owns 2,556,377 shares of the business services provider’s stock valued at $610,182,000 after acquiring an additional 9,464 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ADP. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $1.75 during midday trading on Monday, reaching $271.35. 792,457 shares of the company traded hands, compared to its average volume of 1,653,478. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day moving average of $251.01 and a two-hundred day moving average of $248.29. The firm has a market capitalization of $111.06 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $271.86.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.06%. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing Profile

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.