Paradigm Strategies in Wealth Management LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Paradigm Strategies in Wealth Management LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 744 shares of the business services provider’s stock, valued at approximately $206,000.

A number of other hedge funds have also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth $27,000. Keener Financial Planning LLC raised its holdings in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC lifted its stake in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing in the first quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $36,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP stock opened at $287.96 on Friday. The firm has a 50 day moving average of $279.40 and a two-hundred day moving average of $258.45. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18. The company has a market capitalization of $117.86 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company posted $1.89 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ADP shares. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays upped their price target 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. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $277.64.

Insiders Place Their Bets

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’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 sale, the director now owns 36,741 shares of the company’s stock, valued at $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. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last 90 days. 0.26% of the stock is currently 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.