Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the second quarter, HoldingsChannel reports. The firm bought 104 shares of the business services provider’s stock, valued at approximately $27,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. lifted its position in Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its position in shares of Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after buying an additional 40 shares during the period. Confluence Wealth Services Inc. grew its holdings in shares of Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares in the last quarter. Prestige Wealth Management Group LLC raised its position in Automatic Data Processing by 0.8% in the 1st quarter. Prestige Wealth Management Group LLC now owns 5,581 shares of the business services provider’s stock valued at $1,402,000 after buying an additional 43 shares during the last quarter. Finally, Patron Partners LLC boosted its position in Automatic Data Processing by 1.6% during the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.
Automatic Data Processing Price Performance
Shares of ADP opened at $276.41 on Friday. The company’s 50-day moving average is $264.76 and its 200-day moving average is $251.51. 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 firm has a market capitalization of $113.13 billion, a PE ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54.
Automatic Data Processing Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.
Analyst Ratings Changes
A number of brokerages have recently commented on ADP. Jefferies Financial Group boosted their price objective 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. boosted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays upped their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $265.36.
Check Out Our Latest Analysis on ADP
Insider Transactions at Automatic Data Processing
In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $9,899,862.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.
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.
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