1,308 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by M3 Advisory Group LLC

M3 Advisory Group LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,308 shares of the business services provider’s stock, valued at approximately $305,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $35,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $39,000. Evolution Advisers Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at $41,000. Raleigh Capital Management Inc. increased its stake in Automatic Data Processing by 106.0% in 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 during the period. Finally, Bfsg LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. 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. Barclays boosted 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. TD Cowen dropped 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. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.34 on Monday, hitting $244.96. The company’s stock had a trading volume of 1,347,825 shares, compared to its average volume of 1,669,206. The stock has a 50 day moving average of $245.91 and a 200-day moving average of $243.18. 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 company has a market capitalization of $100.26 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.