Elevated Capital Advisors LLC Makes New $208,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Elevated Capital Advisors LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 751 shares of the business services provider’s stock, valued at approximately $208,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brookstone Capital Management lifted its stake in shares of Automatic Data Processing by 8.9% in the 1st quarter. Brookstone Capital Management now owns 15,752 shares of the business services provider’s stock valued at $3,934,000 after purchasing an additional 1,284 shares during the period. GoalVest Advisory LLC lifted its stake in shares of Automatic Data Processing by 188.7% in the 1st quarter. GoalVest Advisory LLC now owns 306 shares of the business services provider’s stock valued at $76,000 after purchasing an additional 200 shares during the period. Signet Financial Management LLC lifted its stake in shares of Automatic Data Processing by 4.1% in the 1st quarter. Signet Financial Management LLC now owns 3,223 shares of the business services provider’s stock valued at $805,000 after purchasing an additional 126 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $222,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $98,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of recent research reports. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Stifel Nicolaus lifted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $275.33.

Automatic Data Processing Stock Performance

Shares of ADP opened at $290.04 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. The firm has a market capitalization of $118.71 billion, a P/E ratio of 32.37, a PEG ratio of 3.13 and a beta of 0.79. The business has a fifty day moving average of $278.40 and a 200 day moving average of $257.89.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.