Independent Advisor Alliance Has $3.86 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Independent Advisor Alliance lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% during the first quarter, Holdings Channel reports. The institutional investor owned 12,637 shares of the business services provider’s stock after selling 717 shares during the quarter. Independent Advisor Alliance’s holdings in Automatic Data Processing were worth $3,861,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Sentinus LLC lifted its holdings in Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after purchasing an additional 35 shares during the last quarter. Syntegra Private Wealth Group LLC lifted its holdings in Automatic Data Processing by 4.7% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 779 shares of the business services provider’s stock worth $238,000 after purchasing an additional 35 shares during the last quarter. Rehmann Capital Advisory Group lifted its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 36 shares during the last quarter. Detalus Advisors LLC lifted its holdings in Automatic Data Processing by 2.4% during the 1st quarter. Detalus Advisors LLC now owns 1,566 shares of the business services provider’s stock worth $478,000 after purchasing an additional 37 shares during the last quarter. Finally, Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADP. Morgan Stanley lifted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a research note on Friday, June 13th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research note on Thursday, July 31st. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Finally, BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price objective on the stock in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $314.33.

Automatic Data Processing Trading Down 0.7%

Shares of ADP opened at $303.72 on Tuesday. Automatic Data Processing, Inc. has a 52-week low of $258.63 and a 52-week high of $329.93. The business’s fifty day moving average is $307.69 and its 200-day moving average is $305.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $123.02 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.80 and a beta of 0.81.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company posted $2.09 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, September 12th. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. Automatic Data Processing’s payout ratio is currently 61.72%.

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.