Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,288 shares of the business services provider’s stock after acquiring an additional 472 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Automatic Data Processing were worth $2,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Petredis Investment Advisors LLC lifted its position in shares of 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 worth $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after purchasing an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. lifted its position in shares of Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC lifted its position in shares of Automatic Data Processing by 22.1% during the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock worth $61,000 after purchasing an additional 40 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% during the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded up $0.39 during mid-day trading on Friday, reaching $289.82. The company had a trading volume of 147,411 shares, compared to its average volume of 1,619,037. The company’s 50 day simple moving average is $278.40 and its 200 day simple moving average is $257.89. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The company has a market capitalization of $118.62 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during 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%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. Analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ADP shares. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $275.33.

Insiders Place Their Bets

In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated 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 in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s 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 completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock valued at $15,999,208 in the last three months. 0.26% of the stock is currently owned by 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.