Colonial Trust Advisors Purchases 1,600 Shares of Automatic Data Processing, Inc. $ADP

Colonial Trust Advisors raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 95.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,280 shares of the business services provider’s stock after acquiring an additional 1,600 shares during the period. Colonial Trust Advisors’ holdings in Automatic Data Processing were worth $1,002,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. AlphaCore Capital LLC bought a new stake in Automatic Data Processing during the first quarter worth about $688,000. Golden State Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 29.6% in the 1st quarter. Golden State Wealth Management LLC now owns 565 shares of the business services provider’s stock valued at $173,000 after buying an additional 129 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Automatic Data Processing by 13.8% in the 1st quarter. GAMMA Investing LLC now owns 9,495 shares of the business services provider’s stock valued at $2,901,000 after buying an additional 1,148 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Automatic Data Processing by 10.2% in the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock valued at $69,290,000 after buying an additional 21,910 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Automatic Data Processing by 8.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 250,836 shares of the business services provider’s stock worth $76,638,000 after acquiring an additional 20,467 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $302.65 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $262.88 and a 52 week high of $329.93. The firm has a market cap of $122.59 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 2.77 and a beta of 0.81. The firm’s 50-day simple moving average is $305.42 and its 200 day simple moving average is $305.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.05 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.26 EPS for the quarter, topping the consensus estimate of $2.23 by $0.03. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The company had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. During the same period last year, the firm earned $2.09 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on ADP shares. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a research report on Thursday, July 31st. Mizuho upped their target price on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a report on Friday, June 13th. Morgan Stanley upped their price objective on Automatic Data Processing from $310.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 31st. 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. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $314.33.

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.