MRA Advisory Group Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

MRA Advisory Group purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 937 shares of the business services provider’s stock, valued at approximately $259,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $27,000. Keener Financial Planning LLC lifted its holdings in shares of 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 valued at $28,000 after purchasing an additional 76 shares during the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the 1st quarter worth about $36,000. Finally, Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated 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 owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business’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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $284.62 on Friday. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $285.67. The business’s 50-day moving average price is $270.29 and its two-hundred day moving average price is $253.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $116.49 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released 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. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 62.50%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Barclays lifted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $267.83.

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.