Financial Engines Advisors L.L.C. Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Financial Engines Advisors L.L.C. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,123 shares of the business services provider’s stock after purchasing an additional 1,941 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Automatic Data Processing were worth $4,315,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. von Borstel & Associates Inc. purchased a new position in shares of Automatic Data Processing in the first quarter valued at $30,000. Main Street Group LTD grew its position in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 38 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of Automatic Data Processing in the first quarter valued at $35,000. Abound Wealth Management grew its position in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 43 shares in the last quarter. Finally, Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.7%

Shares of ADP stock opened at $303.72 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $307.69 and a two-hundred day moving average price of $305.58. Automatic Data Processing, Inc. has a 12-month low of $258.63 and a 12-month high of $329.93. The firm has a market cap of $123.02 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.80 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.05 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 12th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, September 12th. Automatic Data Processing’s payout ratio is 61.72%.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday, June 13th. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. Mizuho lifted their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday, June 13th. Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, June 5th. Finally, Morgan Stanley lifted their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $314.33.

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.