Paulson Wealth Management Inc. Has $500,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Paulson Wealth Management Inc. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,635 shares of the business services provider’s stock after selling 369 shares during the period. Paulson Wealth Management Inc.’s holdings in Automatic Data Processing were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Automatic Data Processing by 0.5% during the first quarter. Vanguard Group Inc. now owns 40,949,884 shares of the business services provider’s stock valued at $12,511,418,000 after acquiring an additional 218,614 shares during the period. Northern Trust Corp lifted its holdings in Automatic Data Processing by 17.1% during the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock valued at $1,807,438,000 after purchasing an additional 902,354 shares during the last quarter. Capital Research Global Investors boosted its position in Automatic Data Processing by 26.9% in the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock valued at $1,796,415,000 after buying an additional 1,299,390 shares in the last quarter. Invesco Ltd. grew its stake in Automatic Data Processing by 3.7% during the first quarter. Invesco Ltd. now owns 4,031,713 shares of the business services provider’s stock worth $1,231,809,000 after buying an additional 145,161 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 16.7% during the fourth quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider’s stock worth $1,115,909,000 after buying an additional 549,132 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.8%

Shares of NASDAQ:ADP opened at $305.81 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $123.87 billion, a price-to-earnings ratio of 30.64, a P/E/G ratio of 2.80 and a beta of 0.81. The company has a 50 day moving average of $308.13 and a 200-day moving average of $305.54. Automatic Data Processing, Inc. has a one year low of $258.63 and a one year high of $329.93.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. The firm had revenue of $5.13 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Automatic Data Processing had a net margin of 19.84% and a return on equity of 72.84%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Friday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 61.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group decreased their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. BMO Capital Markets upgraded shares of Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a research report on Thursday, July 10th. Mizuho raised their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research report on Friday, June 13th. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $314.33.

Automatic Data Processing Profile

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.