Running Oak Capital LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 85.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,549 shares of the business services provider’s stock after buying an additional 19,621 shares during the period. Running Oak Capital LLC’s holdings in Automatic Data Processing were worth $10,626,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $35,000. Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $39,000. Evolution Advisers Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $41,000. Raleigh Capital Management Inc. lifted its position 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 purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
Shares of NASDAQ ADP traded up $1.91 on Friday, hitting $247.97. The company’s stock had a trading volume of 3,022,851 shares, compared to its average volume of 1,362,978. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a market capitalization of $101.49 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. 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 stock has a 50 day moving average of $245.89 and a 200-day moving average of $243.48.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.52 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.
Automatic Data Processing Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.
Analyst Ratings Changes
ADP has been the topic of several research analyst reports. TD Cowen cut 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 note on Thursday, May 2nd. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho lifted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Evercore ISI lifted 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $255.42.
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.