Syntegra Private Wealth Group LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Syntegra Private Wealth Group LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, HoldingsChannel.com reports. The fund bought 744 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other institutional investors also recently modified their holdings of the stock. Greenleaf Trust grew its position in shares of Automatic Data Processing by 11.5% during the 3rd quarter. Greenleaf Trust now owns 36,168 shares of the business services provider’s stock worth $10,009,000 after buying an additional 3,729 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in shares of Automatic Data Processing by 134.4% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 8,388 shares of the business services provider’s stock worth $2,322,000 after buying an additional 4,809 shares during the period. Meadow Creek Wealth Advisors LLC grew its position in shares of Automatic Data Processing by 6.0% during the 3rd quarter. Meadow Creek Wealth Advisors LLC now owns 2,095 shares of the business services provider’s stock worth $580,000 after buying an additional 119 shares during the period. Elevated Capital Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $208,000. Finally, Albert D Mason Inc. grew its holdings in Automatic Data Processing by 7.0% during the third quarter. Albert D Mason Inc. now owns 11,415 shares of the business services provider’s stock valued at $3,159,000 after purchasing an additional 743 shares during the period. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on 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 directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock traded down $0.82 on Wednesday, hitting $290.52. The company’s stock had a trading volume of 122,755 shares, compared to its average volume of 1,622,783. 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 stock’s 50 day moving average is $277.86 and its 200-day moving average is $257.66. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a market capitalization of $118.91 billion, a PE ratio of 32.50, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.93%. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of research analysts recently issued reports on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Bank of America boosted their price objective 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. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two investment 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, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price 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.