Raub Brock Capital Management LP Has $17.14 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Raub Brock Capital Management LP decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,647 shares of the business services provider’s stock after selling 2,582 shares during the period. Automatic Data Processing makes up 3.6% of Raub Brock Capital Management LP’s portfolio, making the stock its 17th largest holding. Raub Brock Capital Management LP’s holdings in Automatic Data Processing were worth $17,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ADP. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth $35,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth $39,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth $41,000. Raleigh Capital Management Inc. boosted its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. TD Cowen decreased their price target 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. Barclays lifted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two equities research 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, the stock currently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $0.47 during trading on Tuesday, reaching $235.20. The company’s stock had a trading volume of 195,509 shares, compared to its average volume of 1,686,898. The stock has a market capitalization of $96.27 billion, a P/E ratio of 26.17, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. 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 stock has a 50-day moving average price of $245.79 and a two-hundred day moving average price of $243.86.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.52 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.38%. Automatic Data Processing’s dividend payout ratio is currently 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.