M&R Capital Management Inc. Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

M&R Capital Management Inc. lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,724 shares of the business services provider’s stock after selling 92 shares during the period. M&R Capital Management Inc.’s holdings in Automatic Data Processing were worth $680,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Everence Capital Management Inc. raised its holdings in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $1,635,000. Bellecapital International Ltd. increased its holdings in Automatic Data Processing by 2.8% in the 4th quarter. Bellecapital International Ltd. now owns 21,746 shares of the business services provider’s stock worth $5,066,000 after buying an additional 596 shares in the last quarter. Finally, Marks Group Wealth Management Inc purchased a new position in Automatic Data Processing in the 4th quarter worth about $4,015,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. TD Cowen reduced their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Barclays upped 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. Finally, Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Price Performance

ADP stock traded down $0.80 during trading on Tuesday, reaching $244.16. The company’s stock had a trading volume of 425,621 shares, compared to its average volume of 1,658,705. The company’s fifty day moving average is $245.91 and its 200-day moving average is $243.18. The company has a market capitalization of $99.93 billion, a P/E ratio of 27.30, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.52 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 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.