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

EverSource Wealth Advisors LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,966 shares of the business services provider’s stock after purchasing an additional 212 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $516,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Gryphon Financial Partners LLC raised its holdings in shares of Automatic Data Processing by 105.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after buying an additional 1,034 shares during the period. Assetmark Inc. increased its holdings in shares of Automatic Data Processing by 9.5% in the 4th quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock worth $674,000 after acquiring an additional 251 shares during the period. SageView Advisory Group LLC raised its holdings in shares of 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 valued at $572,000 after buying an additional 1,402 shares during the last quarter. Orion Portfolio Solutions LLC raised its stake in shares of Automatic Data Processing by 4.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 12,977 shares of the business services provider’s stock valued at $3,072,000 after purchasing an additional 573 shares in the last quarter. Finally, Congress Wealth Management LLC DE grew its position in Automatic Data Processing by 60.4% in the 4th quarter. Congress Wealth Management LLC DE now owns 9,840 shares of the business services provider’s stock valued at $2,293,000 after buying an additional 3,707 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ADP shares. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Barclays boosted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $265.36.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Maria Black sold 19,147 shares of the company’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 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 document filed with the SEC, which is available at this link. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. 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 90 days. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $277.58 on Tuesday. The stock has a fifty day moving average price of $265.46 and a 200-day moving average price of $251.85. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $113.61 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business 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. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 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.