Union Savings Bank acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,873 shares of the business services provider’s stock, valued at approximately $1,511,000. Automatic Data Processing comprises about 0.7% of Union Savings Bank’s holdings, making the stock its 27th largest holding.
Several other large investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after purchasing an additional 4,808 shares during the last quarter. Bison Wealth LLC boosted its position in shares of Automatic Data Processing by 22.8% in the 4th quarter. Bison Wealth LLC now owns 3,664 shares of the business services provider’s stock worth $1,073,000 after purchasing an additional 681 shares in the last quarter. Schnieders Capital Management LLC. boosted its position in shares of Automatic Data Processing by 21.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 1,259 shares of the business services provider’s stock worth $388,000 after purchasing an additional 225 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in Automatic Data Processing during the 2nd quarter worth $108,000. Finally, Diversify Advisory Services LLC grew its stake in Automatic Data Processing by 17.5% during the 2nd quarter. Diversify Advisory Services LLC now owns 5,477 shares of the business services provider’s stock worth $1,641,000 after buying an additional 815 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
NASDAQ ADP opened at $218.41 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $214.26 and its 200 day moving average price is $228.17. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $315.98. The company has a market cap of $87.31 billion, a price-to-earnings ratio of 20.37 and a beta of 0.84.
Automatic Data Processing Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be issued a dividend of $1.70 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. Automatic Data Processing’s payout ratio is 63.43%.
Wall Street Analyst Weigh In
ADP has been the subject of a number of research analyst reports. Mizuho decreased their price target on Automatic Data Processing from $332.00 to $305.00 in a research note on Thursday, April 30th. Jefferies Financial Group dropped their price target on Automatic Data Processing from $230.00 to $190.00 in a research note on Thursday, April 30th. Morgan Stanley cut their price objective on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets decreased their price objective on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating for the company in a research report on Tuesday, April 7th. Finally, Cantor Fitzgerald lowered their target price on shares of Automatic Data Processing from $306.00 to $244.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $244.29.
Check Out Our Latest Stock Analysis on ADP
Automatic Data Processing Profile
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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