Automatic Data Processing, Inc. (NASDAQ:ADP) Position Decreased by Overbrook Management Corp

Overbrook Management Corp decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,213 shares of the business services provider’s stock after selling 245 shares during the period. Overbrook Management Corp’s holdings in Automatic Data Processing were worth $1,483,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Keener Financial Planning LLC boosted its holdings in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing in the first quarter worth about $36,000. Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $39,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing in the second quarter worth about $40,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. JPMorgan Chase & Co. raised their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, Bank of America raised their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two 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.com, the company presently has an average rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $0.22 during trading on Friday, reaching $269.60. The stock had a trading volume of 1,206,702 shares, compared to its average volume of 1,658,561. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $270.99. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 2.72 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $250.49 and a two-hundred day simple moving average of $248.16.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing Company 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.