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

HFR Wealth Management LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,641 shares of the business services provider’s stock after selling 146 shares during the period. Automatic Data Processing makes up approximately 3.5% of HFR Wealth Management LLC’s holdings, making the stock its 11th largest position. HFR Wealth Management LLC’s holdings in Automatic Data Processing were worth $14,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Sentinus LLC lifted its position in Automatic Data Processing by 2.3% in the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 35 shares during the period. Syntegra Private Wealth Group LLC lifted its position in Automatic Data Processing by 4.7% in the first quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 35 shares during the period. Rehmann Capital Advisory Group lifted its position in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after purchasing an additional 36 shares during the period. Detalus Advisors LLC lifted its position in Automatic Data Processing by 2.4% in the first quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock valued at $478,000 after purchasing an additional 37 shares during the period. Finally, Main Street Group LTD lifted its position in 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 during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $305.00 to $318.00 and gave the company a “hold” rating in a research report on Thursday, July 31st. UBS Group dropped their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. BMO Capital Markets raised shares of Automatic Data Processing to a “hold” rating and set a $340.00 target price for the company in a report on Thursday, July 10th. Mizuho increased their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $314.33.

Automatic Data Processing Trading Up 0.0%

Shares of ADP opened at $301.79 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $305.74 and a 200-day simple moving average of $305.61. Automatic Data Processing, Inc. has a 1-year low of $262.21 and a 1-year high of $329.93. The stock has a market cap of $122.24 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.81.

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

Automatic Data Processing Announces Dividend

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

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.