Aft Forsyth & Company Inc. Has $339,000 Stock Position in Automatic Data Processing (NASDAQ:ADP)

Aft Forsyth & Company Inc. decreased its stake in Automatic Data Processing (NASDAQ:ADP) by 19.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,480 shares of the business services provider’s stock after selling 580 shares during the quarter. Aft Forsyth & Company Inc.’s holdings in Automatic Data Processing were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Klingenstein Fields & Co. LLC boosted its position in shares of Automatic Data Processing by 1.4% in the 4th quarter. Klingenstein Fields & Co. LLC now owns 4,257 shares of the business services provider’s stock valued at $726,000 after purchasing an additional 57 shares during the period. Iberiabank Corp boosted its position in shares of Automatic Data Processing by 2.4% in the 4th quarter. Iberiabank Corp now owns 2,546 shares of the business services provider’s stock valued at $434,000 after purchasing an additional 59 shares during the period. Corundum Group Inc. boosted its position in shares of Automatic Data Processing by 3.9% in the 4th quarter. Corundum Group Inc. now owns 1,584 shares of the business services provider’s stock valued at $270,000 after purchasing an additional 60 shares during the period. Shine Investment Advisory Services Inc. boosted its position in shares of Automatic Data Processing by 9.4% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 734 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 63 shares during the period. Finally, Beaumont Financial Partners LLC boosted its position in shares of Automatic Data Processing by 1.7% in the 4th quarter. Beaumont Financial Partners LLC now owns 3,995 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.

Shares of ADP traded up $1.55 during midday trading on Friday, reaching $134.87. 2,198,780 shares of the stock were exchanged, compared to its average volume of 2,551,071. Automatic Data Processing has a 12-month low of $103.11 and a 12-month high of $182.32. The firm has a 50 day simple moving average of $139.02 and a 200-day simple moving average of $158.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.25. The company has a market cap of $57.30 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.93 and a beta of 0.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, April 29th. The business services provider reported $1.92 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.92. Automatic Data Processing had a return on equity of 47.51% and a net margin of 17.20%. The company had revenue of $4.05 billion during the quarter, compared to the consensus estimate of $4.03 billion. During the same period last year, the business earned $1.77 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts expect that Automatic Data Processing will post 5.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 12th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Thursday, June 11th. Automatic Data Processing’s payout ratio is 66.79%.

In related news, VP Brian L. Michaud sold 250 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $140.23, for a total value of $35,057.50. Following the transaction, the vice president now directly owns 5,412 shares of the company’s stock, valued at approximately $758,924.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on ADP. Citigroup reduced their price objective on Automatic Data Processing from $185.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Cfra reduced their price objective on Automatic Data Processing from $176.00 to $161.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. UBS Group raised Automatic Data Processing from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 1st. Stifel Nicolaus increased their price objective on Automatic Data Processing from $150.00 to $155.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Finally, BidaskClub downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $166.50.

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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