Triad Wealth Partners LLC Invests $109,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Triad Wealth Partners LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the second quarter, according to its most recent filing with the SEC. The fund purchased 457 shares of the business services provider’s stock, valued at approximately $109,000.

Several other institutional investors and hedge funds have also made changes to their positions in ADP. Assenagon Asset Management S.A. grew its holdings in shares of Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares during the last quarter. Fiduciary Financial Group LLC bought a new position in Automatic Data Processing during the 2nd quarter worth $232,000. Mcdonald Partners LLC increased its position in Automatic Data Processing by 1.9% in the second quarter. Mcdonald Partners LLC now owns 4,319 shares of the business services provider’s stock worth $1,031,000 after buying an additional 79 shares during the period. Brown Lisle Cummings Inc. lifted its stake in Automatic Data Processing by 89.7% in the second quarter. Brown Lisle Cummings Inc. now owns 3,084 shares of the business services provider’s stock valued at $736,000 after buying an additional 1,458 shares during the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its holdings in shares of Automatic Data Processing by 17.6% during the second quarter. Epic Trust Investment Advisors LLC now owns 1,074 shares of the business services provider’s stock valued at $256,000 after acquiring an additional 161 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.2 %

Shares of NASDAQ ADP traded up $0.43 during mid-day trading on Friday, reaching $264.09. The company had a trading volume of 1,013,231 shares, compared to its average volume of 1,676,058. The stock has a market capitalization of $108.09 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $269.49. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average is $248.30 and its 200-day moving average is $247.43.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.12%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ADP shares. Barclays boosted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. TD Cowen cut their target price 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. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $262.18.

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.