Rothschild Investment LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) 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 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.
Check Out Our Latest Analysis on Automatic Data Processing
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.
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