NewEdge Advisors LLC Buys 13,871 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NewEdge Advisors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 190,356 shares of the business services provider’s stock after purchasing an additional 13,871 shares during the quarter. NewEdge Advisors LLC’s holdings in Automatic Data Processing were worth $45,436,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the second quarter valued at about $27,000. Keener Financial Planning LLC boosted its position in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter worth approximately $36,000. Finally, Pineridge Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $272.88 on Friday. The stock has a market capitalization of $111.69 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company has a fifty day moving average of $267.65 and a 200-day moving average of $252.66. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-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.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (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 firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.05%. Automatic Data Processing’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Barclays raised their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $267.83.

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on 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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria Black sold 19,147 shares of the company’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 value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. 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 company insiders.

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.