Blossom Wealth Management Purchases Shares of 1,405 Automatic Data Processing, Inc. (NASDAQ:ADP)

Blossom Wealth Management purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,405 shares of the business services provider’s stock, valued at approximately $389,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Petredis Investment Advisors LLC raised its position in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares during the period. Moors & Cabot Inc. raised its holdings in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after buying an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. lifted its stake in shares of Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after buying an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC raised its holdings in shares of Automatic Data Processing by 22.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock worth $61,000 after acquiring an additional 40 shares during the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 41 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $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 sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $291.34 on Wednesday. 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 cap of $119.24 billion, a PE ratio of 32.52, a PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18. The stock’s fifty day moving average price is $277.86 and its two-hundred day moving average price is $257.66.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping 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 last year, the company earned $1.89 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of analysts have commented on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Barclays lifted 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued 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 price target of $275.33.

About Automatic Data Processing

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.