Hayden Royal LLC Makes New $349,000 Investment in Automatic Data Processing (NASDAQ:ADP)

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Hayden Royal LLC bought a new stake in Automatic Data Processing (NASDAQ:ADP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,106 shares of the business services provider’s stock, valued at approximately $349,000.

Other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. grew its position in Automatic Data Processing by 8.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 7,559 shares of the business services provider’s stock valued at $1,250,000 after buying an additional 608 shares in the last quarter. Advisory Services Network LLC grew its stake in shares of Automatic Data Processing by 28.4% in the second quarter. Advisory Services Network LLC now owns 6,871 shares of the business services provider’s stock worth $1,136,000 after acquiring an additional 1,520 shares during the last quarter. Coastal Investment Advisors Inc. grew its stake in shares of Automatic Data Processing by 11.3% in the second quarter. Coastal Investment Advisors Inc. now owns 1,567 shares of the business services provider’s stock worth $260,000 after acquiring an additional 159 shares during the last quarter. Cape Cod Five Cents Savings Bank grew its stake in shares of Automatic Data Processing by 1.9% in the second quarter. Cape Cod Five Cents Savings Bank now owns 34,081 shares of the business services provider’s stock worth $5,635,000 after acquiring an additional 627 shares during the last quarter. Finally, Charter Trust Co. grew its stake in shares of Automatic Data Processing by 5.1% in the second quarter. Charter Trust Co. now owns 65,646 shares of the business services provider’s stock worth $10,853,000 after acquiring an additional 3,209 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.

In other news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total value of $286,972.84. Following the sale, the vice president now owns 14,896 shares in the company, valued at approximately $2,413,747.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

ADP opened at $168.71 on Wednesday. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $172.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04. The business’s fifty day simple moving average is $165.74. The firm has a market capitalization of $73.43 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.10 and a beta of 0.91.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the previous year, the company earned $0.99 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.87%. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

ADP has been the topic of several research analyst reports. Citigroup raised their price objective on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Barclays raised their price objective on shares of Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird raised their price objective on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, ValuEngine downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $174.11.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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