Unique Wealth LLC Has $930,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Unique Wealth LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 38.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,723 shares of the business services provider’s stock after acquiring an additional 1,034 shares during the period. Unique Wealth LLC’s holdings in Automatic Data Processing were worth $930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $39,000. Evolution Advisers Inc. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $41,000. Raleigh Capital Management Inc. boosted its position in Automatic Data Processing by 106.0% during the third 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 last quarter. Finally, Bfsg LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on ADP shares. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Barclays raised their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

Shares of ADP traded up $1.91 during midday trading on Friday, hitting $247.97. The company’s 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’s fifty day simple moving average is $245.89 and its two-hundred day simple moving average is $243.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $101.49 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth 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 analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.52 EPS. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared 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 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 (DPR) is presently 62.50%.

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.