Register Financial Advisors LLC Acquires Shares of 393 Automatic Data Processing, Inc. (NASDAQ:ADP)

Register Financial Advisors LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 393 shares of the business services provider’s stock, valued at approximately $98,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $308,321,000. International Assets Investment Management LLC boosted its holdings in shares of Automatic Data Processing by 22,539.4% in the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 18.3% in the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after acquiring an additional 553,946 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Automatic Data Processing by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after acquiring an additional 412,434 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.6 %

Shares of NASDAQ:ADP traded up $1.39 during trading on Friday, reaching $238.69. The stock had a trading volume of 2,595,023 shares, compared to its average volume of 1,695,063. The business has a fifty day moving average price of $245.79 and a 200-day moving average price of $243.78. 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 cap of $97.69 billion, a P/E ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

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

Automatic Data Processing Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ADP. Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen decreased their price objective 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. Evercore ISI boosted their price objective 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. JPMorgan Chase & Co. decreased their price objective 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, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Company 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.