Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Raised by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,673 shares of the business services provider’s stock after purchasing an additional 85 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Automatic Data Processing were worth $399,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC boosted its holdings in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC bought a new stake in Automatic Data Processing during the first quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth $36,000. Finally, Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $39,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADP has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $265.36.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $276.64 on Wednesday. The stock has a market cap of $113.23 billion, a P/E ratio of 30.88, a P/E/G ratio of 3.02 and a beta of 0.79. The firm’s 50-day simple moving average is $266.07 and its 200 day simple moving average is $252.09. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing Company 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.