Fidelity D & D Bancorp Inc. Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fidelity D & D Bancorp Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,775 shares of the business services provider’s stock after selling 109 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Automatic Data Processing were worth $943,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADP. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $35,000. Pineridge Advisors LLC bought a new position in Automatic Data Processing during the 4th quarter valued at about $39,000. Evolution Advisers Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at about $41,000. Raleigh Capital Management Inc. grew its holdings in Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC bought a new position in Automatic Data Processing during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded up $1.39 during midday trading on Friday, reaching $238.69. The company’s stock had a trading volume of 2,595,023 shares, compared to its average volume of 1,635,318. The firm has a market capitalization of $97.69 billion, a PE ratio of 26.64, a P/E/G ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a fifty day moving average of $245.79 and a 200 day moving average of $243.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.52 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.18 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.35%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analyst Ratings Changes

Several equities analysts recently commented on ADP shares. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. JPMorgan Chase & Co. dropped their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Barclays upped their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen dropped their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $255.42.

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.