KRS Capital Management LLC Purchases New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

KRS Capital Management LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 885 shares of the business services provider’s stock, valued at approximately $221,000.

Several other hedge funds have also made changes to their positions in ADP. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $35,000. Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at $39,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at $41,000. Raleigh Capital Management Inc. increased its position in shares of Automatic Data Processing by 106.0% during the 3rd 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 period. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at $42,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Barclays lifted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Finally, TD Cowen cut 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $255.42.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $1.39 on Friday, reaching $238.69. 2,595,023 shares of the stock were exchanged, compared to its average volume of 1,635,318. The stock has a market cap of $97.69 billion, a PE ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The firm has a fifty day moving average price of $245.79 and a two-hundred day moving average price of $243.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to analyst estimates 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 revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.52 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.18 EPS for the current 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 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.