Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2,844.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,005 shares of the business services provider’s stock after purchasing an additional 28,020 shares during the quarter. MBB Public Markets I LLC’s holdings in Automatic Data Processing were worth $6,923,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ADP. Citigroup lifted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $267.83.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.6 %

ADP opened at $272.88 on Friday. The stock has a market capitalization of $111.69 billion, a PE ratio of 30.46, a P/E/G ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $281.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50 day moving average price is $267.65 and its 200 day moving average price is $252.60.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.