Roble Belko & Company Inc Sells 60 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Roble Belko & Company Inc reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 761 shares of the business services provider’s stock after selling 60 shares during the quarter. Roble Belko & Company Inc’s holdings in Automatic Data Processing were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $35,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $39,000. Evolution Advisers Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. lifted its holdings in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares during the period. Finally, Bfsg LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $42,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen reduced their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $255.42.

Check Out Our Latest Report on ADP

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $1.91 on Friday, reaching $247.97. The stock had a trading volume of 3,022,851 shares, compared to its average volume of 1,362,978. The stock has a market cap of $101.49 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.70 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a 50 day simple moving average of $245.89 and a 200 day simple moving average of $243.48.

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

Automatic Data Processing Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Automatic Data Processing Company Profile

(Free Report)

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

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