TBH Global Asset Management LLC Has $294,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

TBH Global Asset Management LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,260 shares of the business services provider’s stock after selling 57 shares during the quarter. TBH Global Asset Management LLC’s holdings in Automatic Data Processing were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $35,000. Raleigh Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Bfsg LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $42,000. Finally, Vestor Capital LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $44,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded down $2.59 during trading on Friday, reaching $248.90. 973,940 shares of the stock traded hands, compared to its average volume of 1,279,904. 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 market capitalization of $101.87 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 2.76 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a 50-day moving average of $246.17 and a 200-day moving average of $241.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the company earned $2.52 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. Automatic Data Processing’s payout ratio is currently 62.50%.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho upped 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. TD Cowen cut their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $255.42.

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.