Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 408.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,519 shares of the business services provider’s stock after acquiring an additional 3,631 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,079,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Heritage Investment Group Inc. raised its stake in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after acquiring an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. increased its holdings 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 purchasing an additional 42 shares during the period. Prestige Wealth Management Group LLC raised its stake in shares of Automatic Data Processing by 0.8% during the first quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after purchasing an additional 43 shares in the last quarter. Patron Partners LLC lifted its holdings in Automatic Data Processing by 1.6% in 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 during the period. Finally, Morningstar Investment Management LLC lifted its holdings in Automatic Data Processing by 1.7% in the fourth quarter. Morningstar Investment Management LLC now owns 2,720 shares of the business services provider’s stock worth $634,000 after purchasing an additional 46 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $3.31 during trading on Wednesday, reaching $267.85. The company’s stock had a trading volume of 1,305,143 shares, compared to its average volume of 1,664,799. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $269.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $109.63 billion, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. The business’s fifty day moving average price is $249.44 and its 200-day moving average price is $247.88.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.09%. Automatic Data Processing’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Barclays increased their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $265.36.

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.