Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by 9258 Wealth Management LLC

9258 Wealth Management LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,185 shares of the business services provider’s stock after buying an additional 76 shares during the period. 9258 Wealth Management LLC’s holdings in Automatic Data Processing were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Keener Financial Planning LLC lifted its holdings in Automatic Data Processing by 230.3% in the first 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 period. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter worth $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the first quarter valued at $36,000. New Millennium Group LLC purchased a new position in Automatic Data Processing in the second quarter valued at $40,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ADP shares. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Bank of America upped their target price 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. Barclays increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $265.36.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction dated 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 owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, 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 sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The disclosure for this sale can be found here. Insiders sold 49,614 shares of company stock valued at $13,519,460 in the last three months. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $270.17 on Friday. The company has a market cap of $110.58 billion, a P/E ratio of 30.15, a P/E/G ratio of 3.00 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $278.24. The company’s 50-day moving average price is $255.77 and its 200-day moving average price is $249.62. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results 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. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

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.