IFC Holdings Incorporated FL grew its holdings in Automatic Data Processing (NASDAQ:ADP) by 7.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,433 shares of the business services provider’s stock after acquiring an additional 555 shares during the quarter. IFC Holdings Incorporated FL’s holdings in Automatic Data Processing were worth $923,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $102,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Automatic Data Processing during the first quarter worth about $113,000. Grove Bank & Trust grew its holdings in shares of Automatic Data Processing by 16.4% during the second quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares in the last quarter. Finally, Family Capital Trust Co bought a new position in shares of Automatic Data Processing during the third quarter worth about $137,000. Institutional investors own 78.64% of the company’s stock.
A number of research firms recently issued reports on ADP. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank Of Canada reissued a “hold” rating and set a $95.00 price target on shares of Automatic Data Processing in a research report on Friday, September 15th. BMO Capital Markets reissued a “market perform” rating and set a $105.00 price target on shares of Automatic Data Processing in a research report on Wednesday, August 9th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Saturday, September 9th. Finally, Sanford C. Bernstein increased their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Tuesday, October 31st. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $112.37.
Shares of Automatic Data Processing (NASDAQ ADP) opened at $115.92 on Thursday. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The stock has a market capitalization of $51,302.89, a P/E ratio of 30.93, a PEG ratio of 2.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Automatic Data Processing will post 3.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 58.02%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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