Brighton Jones LLC Acquires 255 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Brighton Jones LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the second quarter, Holdings Channel.com reports. The firm owned 8,026 shares of the business services provider’s stock after purchasing an additional 255 shares during the quarter. Brighton Jones LLC’s holdings in Automatic Data Processing were worth $1,916,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. BlueSpruce Investments LP bought a new stake in shares of Automatic Data Processing during the 1st quarter valued at $365,757,000. Capital Research Global Investors lifted its position in shares of 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 in the last quarter. Nordea Investment Management AB boosted its stake in shares of Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock worth $678,601,000 after acquiring an additional 589,831 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Automatic Data Processing by 238.1% during the first 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 in the last quarter. Finally, Vanguard Group Inc. raised its stake in Automatic Data Processing by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 39,596,142 shares of the business services provider’s stock valued at $9,224,713,000 after purchasing an additional 412,434 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related 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 transaction, the director now directly 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 the SEC website. In other Automatic Data Processing 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 sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on ADP shares. JPMorgan Chase & Co. upped their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group boosted 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 note on Thursday, August 1st. Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Trading Down 0.5 %

Shares of NASDAQ ADP opened at $276.41 on Friday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $281.54. 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 business’s 50 day moving average is $264.76 and its two-hundred day moving average is $251.51. The stock has a market capitalization of $113.13 billion, a P/E ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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 firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. As a group, research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 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.