Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Etesian Wealth Advisors Inc.

Etesian Wealth Advisors Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,120 shares of the business services provider’s stock after selling 159 shares during the quarter. Etesian Wealth Advisors Inc.’s holdings in Automatic Data Processing were worth $529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $35,000. Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $39,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $41,000. Raleigh Capital Management Inc. grew its holdings in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent analyst reports. Barclays increased their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday, May 2nd. TD Cowen decreased their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. Mizuho increased their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $9.42 on Wednesday, reaching $238.98. 1,179,105 shares of the company traded hands, compared to its average volume of 1,668,853. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The company’s 50 day moving average is $246.07 and its 200-day moving average is $243.83. The stock has a market capitalization of $97.81 billion, a PE ratio of 26.72, a P/E/G ratio of 2.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. 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 Announces Dividend

The business 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 dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.34%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

About Automatic Data Processing

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.