NorthRock Partners LLC Invests $204,000 in Automatic Data Processing (ADP) Stock

NorthRock Partners LLC acquired a new stake in Automatic Data Processing (NASDAQ:ADP) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,851 shares of the business services provider’s stock, valued at approximately $204,000.

Other hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC increased its holdings in shares of 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 worth $111,000 after buying an additional 17 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $102,000. Grove Bank & Trust increased its holdings in shares of Automatic Data Processing by 16.4% during the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after buying an additional 170 shares during the last quarter. Family Capital Trust Co acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $137,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $136,000. Institutional investors own 78.67% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $117.31 on Friday. Automatic Data Processing has a 1-year low of $94.11 and a 1-year 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. The firm has a market cap of $52,003.60, a P/E ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.85.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 8th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. Automatic Data Processing’s dividend payout ratio (DPR) is 64.12%.

A number of brokerages have recently issued reports on ADP. Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and raised their price target for the stock from $116.02 to $135.00 in a report on Monday, December 11th. Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a report on Tuesday, December 5th. BidaskClub upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Saturday, December 2nd. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a report on Wednesday, November 15th. Finally, Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a report on Wednesday, November 8th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $114.14.

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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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