885 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by KRS Capital Management LLC

KRS Capital Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 885 shares of the business services provider’s stock, valued at approximately $221,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Everence Capital Management Inc. raised its holdings in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares in the last quarter. BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at about $1,635,000. Bellecapital International Ltd. increased its holdings in shares of Automatic Data Processing by 2.8% during the fourth quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock valued at $5,066,000 after acquiring an additional 596 shares in the last quarter. Finally, Marks Group Wealth Management Inc acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at about $4,015,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $1.39 during mid-day trading on Friday, hitting $238.69. The company had a trading volume of 2,595,023 shares, compared to its average volume of 1,635,318. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a market capitalization of $97.69 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 2.61 and a beta of 0.78. 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 fifty day moving average is $245.79 and its 200-day moving average is $243.78.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter last year, the firm posted $2.52 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.18 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADP. Mizuho upped their price objective 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. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. TD Cowen cut 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, May 2nd. JPMorgan Chase & Co. cut their price target 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. Finally, Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing 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.