Providence Wealth Advisors LLC Acquires New Position in Automatic Data Processing (ADP)

Providence Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,537 shares of the business services provider’s stock, valued at approximately $247,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Vanguard Group Inc lifted its position in Automatic Data Processing by 1.2% during the third quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock worth $5,566,295,000 after buying an additional 425,007 shares during the period. BlackRock Inc. lifted its position in Automatic Data Processing by 5.4% during the fourth quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock worth $4,064,239,000 after buying an additional 1,587,214 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Automatic Data Processing by 18,918.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock worth $179,000 after buying an additional 23,339,116 shares during the period. Lunia Capital LP lifted its position in Automatic Data Processing by 14,251.9% during the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock worth $18,368,000 after buying an additional 18,239,702 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Automatic Data Processing by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 9,605,668 shares of the business services provider’s stock worth $1,447,190,000 after buying an additional 121,162 shares during the period. 80.48% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing stock opened at $162.44 on Friday. The stock has a market capitalization of $70.76 billion, a PE ratio of 37.34, a PEG ratio of 2.32 and a beta of 0.96. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. Automatic Data Processing has a 12 month low of $112.58 and a 12 month high of $164.41.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.16. The company had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. On average, equities analysts forecast that Automatic Data Processing will post 5.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.79 dividend. The ex-dividend date is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is 72.64%.

In other news, VP John Ayala sold 3,121 shares of the stock in a transaction dated Tuesday, January 22nd. The stock was sold at an average price of $133.98, for a total value of $418,151.58. Following the completion of the sale, the vice president now owns 4,140 shares in the company, valued at $554,677.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stuart Sackman sold 1,478 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares of the company’s stock, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,721 shares of company stock worth $12,714,980. Company insiders own 0.33% of the company’s stock.

Several equities analysts recently weighed in on ADP shares. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “sell” rating in a research report on Wednesday, January 2nd. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $153.43.

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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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