Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Private Advisor Group LLC

Private Advisor Group LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,259 shares of the business services provider’s stock after purchasing an additional 276 shares during the quarter. Private Advisor Group LLC’s holdings in Automatic Data Processing were worth $5,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlueSpruce Investments LP acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at about $365,757,000. Norges Bank bought a new position in Automatic Data Processing in the fourth quarter worth about $308,321,000. Capital Research Global Investors boosted its stake in Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares during the period. Nordea Investment Management AB grew its holdings in shares of Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after purchasing an additional 552,096 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related 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 transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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, 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 owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last quarter. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $279.26 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $279.58. The firm has a market capitalization of $113.88 billion, a PE ratio of 31.17, a P/E/G ratio of 2.93 and a beta of 0.79. The company’s 50 day simple moving average is $258.04 and its 200 day simple moving average is $249.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

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. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADP shares. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Monday. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $265.36.

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.