Rothschild Investment LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Rothschild Investment LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,716 shares of the business services provider’s stock, valued at approximately $410,000.

Several other institutional investors and hedge funds also recently modified their holdings of ADP. Keener Financial Planning LLC grew its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at approximately $36,000. Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $39,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth $40,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.9 %

Automatic Data Processing stock opened at $275.91 on Monday. The company’s 50-day moving average price is $253.29 and its two-hundred day moving average price is $248.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $112.52 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 3.00 and a beta of 0.78. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $276.77.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.89 earnings per share. On average, analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Bank of America increased their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Barclays raised their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $265.36.

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.