Concentric Wealth Management LLC Invests $207,000 in Automatic Data Processing (ADP) Stock

Concentric Wealth Management LLC acquired a new position in Automatic Data Processing (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,892 shares of the business services provider’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America increased its holdings in Automatic Data Processing by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after acquiring an additional 12 shares during the last quarter. Personal Capital Advisors Corp grew its holdings in Automatic Data Processing by 0.7% during the 2nd quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after buying an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in Automatic Data Processing by 0.6% during the 1st quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after buying an additional 16 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 1.8% during the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after buying an additional 17 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC grew its holdings in Automatic Data Processing by 0.5% during the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after buying an additional 21 shares in the last quarter. 78.78% of the stock is owned by institutional investors.

A number of research analysts have weighed in on ADP shares. BidaskClub lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Morgan Stanley raised Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 target price for the company in a report on Tuesday, November 14th. Sanford C. Bernstein lifted their target price on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Deutsche Bank reaffirmed a “hold” rating and set a $102.00 target price on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Barclays lifted their target price on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 26th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $114.17.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $118.19 on Monday. The firm has a market capitalization of $52,416.08, a P/E ratio of 31.60, a P/E/G ratio of 2.93 and a beta of 0.85. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. Automatic Data Processing’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. analysts expect that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be given a $0.63 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date is Thursday, December 7th. This represents a $2.52 dividend on an annualized basis and a yield of 2.13%. Automatic Data Processing’s payout ratio is presently 64.12%.

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Automatic Data Processing Company Profile

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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