Mountain Pacific Investment Advisers Inc. ID Sells 140 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mountain Pacific Investment Advisers Inc. ID cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,136 shares of the business services provider’s stock after selling 140 shares during the quarter. Mountain Pacific Investment Advisers Inc. ID’s holdings in Automatic Data Processing were worth $3,530,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $35,000. Pineridge Advisors LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $39,000. Raleigh Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 89 shares during the period. Evolution Advisers Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $41,000. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $42,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.91 during trading hours on Friday, hitting $247.97. The stock had a trading volume of 3,022,851 shares, compared to its average volume of 1,362,978. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average price is $245.89 and its two-hundred day moving average price is $243.48. The stock has a market capitalization of $101.49 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.70 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.17 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio is 62.50%.

Analyst Ratings Changes

A number of research firms have commented on ADP. TD Cowen reduced their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. JPMorgan Chase & Co. reduced their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target 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.