Kestra Private Wealth Services LLC Decreases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kestra Private Wealth Services LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,631 shares of the business services provider’s stock after selling 717 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Automatic Data Processing were worth $1,964,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADP. Gradient Investments LLC grew its stake in Automatic Data Processing by 11.0% during the 1st quarter. Gradient Investments LLC now owns 63,969 shares of the business services provider’s stock valued at $14,556,000 after purchasing an additional 6,354 shares in the last quarter. Ninety One UK Ltd boosted its stake in shares of Automatic Data Processing by 39.3% during the 1st quarter. Ninety One UK Ltd now owns 2,524,915 shares of the business services provider’s stock valued at $574,519,000 after buying an additional 712,165 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Automatic Data Processing by 13.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,815 shares of the business services provider’s stock worth $640,000 after buying an additional 341 shares in the last quarter. M Holdings Securities Inc. acquired a new stake in shares of Automatic Data Processing during the first quarter worth approximately $684,000. Finally, Lederer & Associates Investment Counsel CA increased its stake in shares of Automatic Data Processing by 0.5% in the first quarter. Lederer & Associates Investment Counsel CA now owns 16,450 shares of the business services provider’s stock worth $3,743,000 after buying an additional 74 shares during the last quarter. Institutional investors and hedge funds own 79.06% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $230.71 on Friday. Automatic Data Processing, Inc. has a 12 month low of $192.26 and a 12 month high of $261.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a fifty day moving average price of $238.56 and a 200 day moving average price of $224.61. The company has a market cap of $95.86 billion, a P/E ratio of 32.91, a PEG ratio of 2.43 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. The business had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, research analysts forecast that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, September 8th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.80%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADP shares. Cowen increased their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Morgan Stanley lifted their price target on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Mizuho upped their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Wolfe Research reduced their target price on Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Finally, Cowen boosted their price target on Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $235.92.

Insider Transactions at Automatic Data Processing

In related news, CEO Carlos A. Rodriguez sold 58,864 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at approximately $10,515,189.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Carlos A. Rodriguez sold 58,864 shares of Automatic Data Processing stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the sale, the chief executive officer now directly owns 44,426 shares in the company, valued at $10,515,189.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Augusto J. Blanchard sold 567 shares of the stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total transaction of $119,432.88. Following the completion of the transaction, the vice president now owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 107,349 shares of company stock worth $25,576,129. Company insiders own 0.34% of the company’s stock.

About Automatic Data Processing

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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