Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33,258.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,704 shares of the business services provider’s stock after acquiring an additional 48,558 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Automatic Data Processing were worth $13,478,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter worth approximately $27,000. Keener Financial Planning LLC lifted its position in shares of Automatic Data Processing by 230.3% during the 1st 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 last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth $33,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth $40,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.5 %

NASDAQ ADP traded down $1.47 during trading on Friday, hitting $287.96. 1,691,504 shares of the company traded hands, compared to its average volume of 1,626,496. The company has a market capitalization of $117.86 billion, a P/E ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $279.40 and a 200 day simple moving average of $258.39. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the company earned $1.89 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. Bank of America lifted 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $275.33.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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 completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

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.