IMS Capital Management Has $2.48 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

IMS Capital Management grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,359 shares of the business services provider’s stock after purchasing an additional 343 shares during the quarter. Automatic Data Processing makes up approximately 1.1% of IMS Capital Management’s holdings, making the stock its 24th biggest holding. IMS Capital Management’s holdings in Automatic Data Processing were worth $2,476,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADP. Truist Financial Corp increased its stake in Automatic Data Processing by 0.7% in the second quarter. Truist Financial Corp now owns 851,390 shares of the business services provider’s stock valued at $203,218,000 after purchasing an additional 5,900 shares in the last quarter. Next Capital Management LLC boosted its holdings in Automatic Data Processing by 5.3% during the second quarter. Next Capital Management LLC now owns 1,442 shares of the business services provider’s stock worth $344,000 after purchasing an additional 72 shares during the last quarter. EP Wealth Advisors LLC increased its stake in Automatic Data Processing by 25.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 19,408 shares of the business services provider’s stock valued at $4,632,000 after buying an additional 3,951 shares during the last quarter. Regal Investment Advisors LLC grew its holdings in shares of Automatic Data Processing by 10.0% in the 2nd quarter. Regal Investment Advisors LLC now owns 15,342 shares of the business services provider’s stock valued at $3,662,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Quarry LP increased its position in shares of Automatic Data Processing by 585.8% in the second quarter. Quarry LP now owns 1,447 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 1,236 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Jefferies Financial Group increased their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Bank of America boosted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Trading Up 1.4 %

ADP stock opened at $276.73 on Tuesday. The company’s 50 day moving average price is $268.23 and its two-hundred day moving average price is $252.95. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $281.54. The company has a market capitalization of $113.26 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Announces Dividend

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