Diversified LLC Has $266,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversified LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,116 shares of the business services provider’s stock after purchasing an additional 291 shares during the period. Diversified LLC’s holdings in Automatic Data Processing were worth $266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bedel Financial Consulting Inc. increased its position in shares of Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock valued at $1,224,000 after acquiring an additional 42 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in Automatic Data Processing by 0.8% during the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock worth $1,402,000 after acquiring an additional 43 shares in the last quarter. Patron Partners LLC lifted its position in shares of Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after purchasing an additional 44 shares in the last quarter. Morningstar Investment Management LLC lifted its holdings in Automatic Data Processing by 1.7% during the 4th quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after buying an additional 46 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in Automatic Data Processing by 2.0% in the 1st quarter. Strategy Asset Managers LLC now owns 2,368 shares of the business services provider’s stock valued at $591,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADP shares. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $265.36.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $0.22 during midday trading on Friday, hitting $269.60. The company had a trading volume of 1,206,702 shares, compared to its average volume of 1,658,561. 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 business has a 50-day simple moving average of $250.49 and a two-hundred day simple moving average of $248.18. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $270.99. The firm has a market capitalization of $110.34 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.74 billion. During the same period last year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 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.