S.E.E.D. Planning Group LLC Has $876,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

S.E.E.D. Planning Group LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,507 shares of the business services provider’s stock after buying an additional 622 shares during the period. S.E.E.D. Planning Group LLC’s holdings in Automatic Data Processing were worth $876,000 as of its most recent SEC filing.

Other hedge funds have also 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 worth approximately $35,000. Pineridge Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $39,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $41,000. Raleigh Capital Management Inc. lifted 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 worth $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 fourth quarter worth $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.6 %

ADP stock traded up $1.39 during trading on Friday, hitting $238.69. The company had a trading volume of 2,595,023 shares, compared to its average volume of 1,635,318. 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, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a 50 day simple moving average of $245.79 and a 200-day simple moving average of $243.78. The firm has a market capitalization of $97.69 billion, a P/E ratio of 26.64, a PEG ratio of 2.61 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same period last year, the business earned $2.52 EPS. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADP shares. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, June 18th. Mizuho increased their price target on shares of 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 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $255.42.

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.