Sweet Financial Partners LLC Has $2.37 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sweet Financial Partners LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,563 shares of the business services provider’s stock after selling 186 shares during the quarter. Sweet Financial Partners LLC’s holdings in Automatic Data Processing were worth $2,370,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Petredis Investment Advisors LLC raised its position in 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 valued at $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its position in Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after buying an additional 40 shares during the last quarter. Trifecta Capital Advisors LLC lifted its position in 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 buying an additional 40 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its stake in Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on ADP. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Stifel Nicolaus raised their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Trading Up 0.4 %

ADP opened at $291.96 on Friday. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. 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 business has a 50 day simple moving average of $276.03 and a two-hundred day simple moving average of $256.51. The firm has a market capitalization of $119.50 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.92%. Automatic Data Processing’s payout ratio is 62.50%.

Insiders Place Their Bets

In related news, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred 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 owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was 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 approximately $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

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.