SeaCrest Wealth Management LLC Purchases 111 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

SeaCrest Wealth Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,455 shares of the business services provider’s stock after purchasing an additional 111 shares during the period. SeaCrest Wealth Management LLC’s holdings in Automatic Data Processing were worth $586,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. TD Asset Management Inc increased its holdings in Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC lifted its stake in Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC bought a new position in Automatic Data Processing during the first quarter valued at $2,924,000. Finally, LVW Advisors LLC increased its position in Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after buying an additional 740 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

Shares of NASDAQ:ADP traded up $1.67 during trading on Wednesday, reaching $266.21. 179,181 shares of the stock traded hands, compared to its average volume of 1,657,812. The stock has a market cap of $108.96 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. 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 has a 50-day moving average of $249.01 and a two-hundred day moving average of $247.74. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $269.49.

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 the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during 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%. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.89 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADP. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday. Barclays raised their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. TD Cowen lowered their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $265.36.

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.