Adams Chetwood Wealth Management LLC lifted its position in Automatic Data Processing (NASDAQ:ADP) by 7.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,047 shares of the business services provider’s stock after purchasing an additional 148 shares during the quarter. Adams Chetwood Wealth Management LLC’s holdings in Automatic Data Processing were worth $299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ADP. Archer Investment Corp purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $153,000. Cranbrook Wealth Management LLC grew its position in Automatic Data Processing by 361.1% during the 4th quarter. Cranbrook Wealth Management LLC now owns 166 shares of the business services provider’s stock worth $28,000 after purchasing an additional 130 shares during the period. Eastern Bank grew its position in Automatic Data Processing by 4.9% during the 4th quarter. Eastern Bank now owns 23,770 shares of the business services provider’s stock worth $4,053,000 after purchasing an additional 1,106 shares during the period. Carnegie Capital Asset Management LLC grew its position in Automatic Data Processing by 47.6% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 10,366 shares of the business services provider’s stock worth $1,767,000 after purchasing an additional 3,342 shares during the period. Finally, Shakespeare Wealth Management Inc. grew its position in Automatic Data Processing by 12.4% during the 1st quarter. Shakespeare Wealth Management Inc. now owns 2,062 shares of the business services provider’s stock worth $282,000 after purchasing an additional 227 shares during the period. 79.80% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on ADP. Morgan Stanley increased their target price on shares of Automatic Data Processing from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. BidaskClub lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, May 15th. BMO Capital Markets lowered their target price on shares of Automatic Data Processing from $179.00 to $154.00 and set a “market perform” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $189.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Finally, UBS Group raised shares of Automatic Data Processing from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 1st. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $166.50.

In related news, VP Brian L. Michaud sold 250 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $140.23, for a total transaction of $35,057.50. Following the sale, the vice president now owns 5,412 shares of the company’s stock, valued at $758,924.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.31% of the stock is currently owned by insiders.

Shares of Automatic Data Processing stock traded up $3.20 on Wednesday, reaching $151.45. 1,368,992 shares of the stock were exchanged, compared to its average volume of 2,576,333. Automatic Data Processing has a 1-year low of $103.11 and a 1-year high of $182.32. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average price of $140.28 and a two-hundred day moving average price of $157.13. The firm has a market capitalization of $62.55 billion, a PE ratio of 25.84, a PEG ratio of 2.11 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.92. Automatic Data Processing had a net margin of 17.20% and a return on equity of 47.51%. The business had revenue of $4.05 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Research analysts expect that Automatic Data Processing will post 5.75 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be paid a dividend of $0.91 per share. The ex-dividend date is Thursday, June 11th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.40%. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

See Also: Example of operating income, EBIT and EBITDA

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.