Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by BKM Wealth Management LLC

BKM Wealth Management LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.4% during the first quarter, HoldingsChannel.com reports. The firm owned 7,655 shares of the business services provider’s stock after buying an additional 903 shares during the period. BKM Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,912,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $39,000. Raleigh Capital Management Inc. boosted its stake in shares of 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 worth $42,000 after acquiring an additional 89 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $41,000. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on ADP. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. reduced 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 research report on Thursday, May 2nd. Finally, TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Trading Down 0.9 %

Shares of NASDAQ:ADP traded down $2.24 during mid-day trading on Monday, reaching $236.45. 398,199 shares of the company were exchanged, compared to its average volume of 1,685,018. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $96.78 billion, a price-to-earnings ratio of 26.45, a P/E/G ratio of 2.62 and a beta of 0.78. The firm’s 50-day simple moving average is $245.79 and its 200 day simple moving average is $243.86. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued 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. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the company posted $2.52 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.37%. 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.