Blue Trust Inc. Has $1.18 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Blue Trust Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,720 shares of the business services provider’s stock after purchasing an additional 907 shares during the quarter. Blue Trust Inc.’s holdings in Automatic Data Processing were worth $1,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Keener Financial Planning LLC raised its position in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $36,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $39,000. Finally, Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.2 %

Shares of Automatic Data Processing stock traded up $0.43 during trading on Friday, reaching $264.09. The company’s stock had a trading volume of 1,013,231 shares, compared to its average volume of 1,676,058. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $269.49. The company has a market cap of $108.09 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.72 and a beta of 0.78. The firm’s 50-day moving average is $248.30 and its two-hundred day moving average is $247.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The firm’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.12%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several analysts have recently issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. TD Cowen decreased their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Bank of America upped their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $262.18.

Automatic Data Processing Company 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.