Asset Dedication LLC Has $2.37 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Dedication LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,913 shares of the business services provider’s stock after buying an additional 1,471 shares during the quarter. Asset Dedication LLC’s holdings in Automatic Data Processing were worth $2,366,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc grew its position in Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock worth $200,256,000 after buying an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Automatic Data Processing by 70.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares during the period. SG Americas Securities LLC grew its holdings in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $2,924,000. Finally, LVW Advisors LLC raised its stake in Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock opened at $269.56 on Friday. The firm has a market cap of $110.33 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $256.39 and a 200-day moving average price of $249.71. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $278.24.

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

Automatic Data Processing Announces Dividend

The company 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Bank of America increased their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $265.36.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,614 shares of company stock valued at $13,519,460. 0.26% of the stock is owned by company insiders.

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.