DeDora Capital Inc. Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

DeDora Capital Inc. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.1% during the 1st quarter, HoldingsChannel reports. The firm owned 2,612 shares of the business services provider’s stock after buying an additional 650 shares during the period. DeDora Capital Inc.’s holdings in Automatic Data Processing were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. OFI Invest Asset Management bought a new position in Automatic Data Processing in the third quarter worth approximately $25,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $35,000. Pineridge Advisors LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $39,000. Evolution Advisers Inc. bought a new stake in Automatic Data Processing in the 4th quarter valued at $41,000. Finally, Raleigh Capital Management Inc. increased 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 valued at $42,000 after acquiring an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 3,829 shares of company stock valued at $965,274 in the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

Shares of ADP stock traded down $0.14 during trading hours on Friday, reaching $241.89. 1,491,532 shares of the stock were exchanged, compared to its average volume of 1,451,137. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $245.63 and its 200-day moving average price is $239.08. The firm has a market capitalization of $99.37 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.22 billion. During the same period in the previous year, the company earned $2.52 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. TD Cowen reduced 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 report on Thursday. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Barclays lifted their price objective 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. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $255.42.

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.