Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,077 shares of the business services provider’s stock after acquiring an additional 696 shares during the period. Forum Financial Management LP’s holdings in Automatic Data Processing were worth $1,212,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Keener Financial Planning LLC increased its position in 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 worth $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $36,000. New Millennium Group LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $40,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADP. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group boosted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America boosted 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $265.36.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $275.91 on Friday. The company has a market cap of $112.93 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.72 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $276.77. 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 company has a 50-day simple moving average of $252.73 and a 200-day simple moving average of $248.80.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly 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 business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.01 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Activity at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing 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 transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.