Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by AE Wealth Management LLC

AE Wealth Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,458 shares of the business services provider’s stock after acquiring an additional 2,096 shares during the quarter. AE Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,258,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC lifted its position in Automatic Data Processing by 105.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares during the period. Assetmark Inc. boosted its stake in shares of Automatic Data Processing by 9.5% in the fourth quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock valued at $674,000 after buying an additional 251 shares in the last quarter. SageView Advisory Group LLC grew its holdings in Automatic Data Processing by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock worth $572,000 after acquiring an additional 1,402 shares during the period. Orion Portfolio Solutions LLC raised its position in Automatic Data Processing by 4.6% in the fourth quarter. Orion Portfolio Solutions LLC now owns 12,977 shares of the business services provider’s stock worth $3,072,000 after acquiring an additional 573 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its holdings in Automatic Data Processing by 60.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 9,840 shares of the business services provider’s stock valued at $2,293,000 after acquiring an additional 3,707 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’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 sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Bank of America increased their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 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 assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $277.58 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $113.61 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth 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. The business has a fifty day moving average of $265.46 and a 200-day moving average of $251.85.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.89 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

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.