Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Austin Private Wealth LLC

Austin Private Wealth LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 923 shares of the business services provider’s stock after purchasing an additional 39 shares during the period. Austin Private Wealth LLC’s holdings in Automatic Data Processing were worth $255,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ADP. Central Pacific Bank Trust Division acquired a new position in Automatic Data Processing in the 1st quarter valued at approximately $241,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Automatic Data Processing by 47.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 18,356 shares of the business services provider’s stock worth $4,584,000 after acquiring an additional 5,911 shares in the last quarter. Larson Financial Group LLC grew its stake in Automatic Data Processing by 134.9% in the first quarter. Larson Financial Group LLC now owns 1,233 shares of the business services provider’s stock valued at $308,000 after purchasing an additional 708 shares in the last quarter. Avidian Wealth Solutions LLC increased its position in Automatic Data Processing by 11.8% in the 1st quarter. Avidian Wealth Solutions LLC now owns 1,238 shares of the business services provider’s stock worth $309,000 after purchasing an additional 131 shares during the last quarter. Finally, Catalina Capital Group LLC purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth about $347,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP traded up $1.31 during mid-day trading on Tuesday, hitting $291.17. The company’s stock had a trading volume of 107,179 shares, compared to its average volume of 1,628,114. The firm has a market capitalization of $118.75 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $218.63 and a one year high of $294.18. The stock’s 50-day moving average is $281.94 and its two-hundred day moving average is $260.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 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. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADP. Royal Bank of Canada boosted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Citigroup increased 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. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Bank of America upped 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Transactions at Automatic Data Processing

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 stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $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 the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing 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.