Diversified Trust Co Purchases 1,240 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversified Trust Co increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,675 shares of the business services provider’s stock after buying an additional 1,240 shares during the period. Diversified Trust Co’s holdings in Automatic Data Processing were worth $2,416,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have recently commented on ADP. JPMorgan Chase & Co. decreased 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. Evercore ISI raised their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Barclays boosted 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 report on Thursday, May 2nd. TD Cowen dropped 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 report on Thursday, May 2nd. Finally, Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Performance

ADP stock opened at $235.67 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market cap of $96.46 billion, a PE ratio of 26.32, a P/E/G ratio of 2.62 and a beta of 0.78. The business has a 50 day moving average of $245.79 and a 200-day moving average of $243.86. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during 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 revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.52 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was 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.