Accretive Wealth Partners LLC Sells 125 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Accretive Wealth Partners LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,097 shares of the business services provider’s stock after selling 125 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,241,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC grew its stake in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the first quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $35,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group increased 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, October 22nd. Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $289.91.

Insider Activity

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing 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 directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 23.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,946 shares of company stock valued at $27,462,781 over the last three months. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $304.69 on Friday. The stock has a market capitalization of $124.15 billion, a PE ratio of 32.52, a P/E/G ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37. The firm has a fifty day simple moving average of $288.99 and a 200 day simple moving average of $265.44. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the firm posted $2.08 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

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.