Burns J W & Co. Inc. NY Has $889,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Burns J W & Co. Inc. NY decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,561 shares of the business services provider’s stock after selling 170 shares during the period. Burns J W & Co. Inc. NY’s holdings in Automatic Data Processing were worth $889,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Dark Forest Capital Management LP acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $414,000. Westfield Capital Management Co. LP acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $3,429,000. Staley Capital Advisers Inc. grew its position in Automatic Data Processing by 9.9% in the third quarter. Staley Capital Advisers Inc. now owns 1,769 shares of the business services provider’s stock worth $426,000 after acquiring an additional 159 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Automatic Data Processing by 51.1% during the 3rd quarter. Bank of Nova Scotia now owns 54,716 shares of the business services provider’s stock worth $13,164,000 after purchasing an additional 18,509 shares during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in shares of Automatic Data Processing by 3.3% during the 3rd quarter. CWA Asset Management Group LLC now owns 2,255 shares of the business services provider’s stock worth $543,000 after purchasing an additional 73 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. 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. 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 report on Thursday, May 2nd. Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. TD Cowen decreased their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Finally, Barclays lifted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Price Performance

NASDAQ ADP traded up $1.39 on Friday, hitting $238.69. 2,595,023 shares of the company were exchanged, compared to its average volume of 1,635,318. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market cap of $97.69 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The firm has a 50 day moving average of $245.79 and a two-hundred day moving average of $243.78.

Automatic Data Processing (NASDAQ:ADP) last announced 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 firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.52 EPS. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.18 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 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.