Monterey Private Wealth Inc. acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the 1st quarter, Holdings Channel reports. The fund acquired 831 shares of the business services provider’s stock, valued at approximately $208,000.
A number of other large investors also recently made changes to their positions in ADP. Everence Capital Management Inc. lifted its holdings in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC boosted its position in Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $1,635,000. Bellecapital International Ltd. grew its position in Automatic Data Processing by 2.8% in the fourth quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock valued at $5,066,000 after acquiring an additional 596 shares in the last quarter. Finally, Marks Group Wealth Management Inc acquired a new stake in Automatic Data Processing during the 4th quarter valued at $4,015,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Stock Performance
Automatic Data Processing stock traded up $0.84 during mid-day trading on Thursday, hitting $245.25. 280,018 shares of the company’s stock traded hands, compared to its average volume of 1,651,219. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm has a 50 day moving average price of $245.77 and a 200 day moving average price of $243.27. The company has a market cap of $100.38 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 2.69 and a beta of 0.78.
Automatic Data Processing Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.
Analyst Ratings Changes
Several research firms have recently commented on ADP. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays increased their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI increased their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $255.42.
Read Our Latest Stock Analysis on Automatic Data Processing
Automatic Data Processing 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.
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