CreativeOne Wealth LLC Grows Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

CreativeOne Wealth LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,871 shares of the business services provider’s stock after purchasing an additional 99 shares during the quarter. CreativeOne Wealth LLC’s holdings in Automatic Data Processing were worth $1,328,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Calamos Wealth Management LLC acquired a new position in Automatic Data Processing in the third quarter worth about $270,000. First Business Financial Services Inc. acquired a new position in Automatic Data Processing in the third quarter worth about $211,000. Redwood Investment Management LLC acquired a new position in Automatic Data Processing in the third quarter worth about $230,000. CAPROCK Group Inc. grew its stake in Automatic Data Processing by 2.4% in the third quarter. CAPROCK Group Inc. now owns 5,518 shares of the business services provider’s stock worth $1,254,000 after purchasing an additional 128 shares in the last quarter. Finally, Mather Group LLC. grew its stake in Automatic Data Processing by 4.2% in the second quarter. Mather Group LLC. now owns 63,019 shares of the business services provider’s stock worth $13,236,000 after purchasing an additional 2,525 shares in the last quarter. 79.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research reports. Wolfe Research lifted their price target on Automatic Data Processing from $220.00 to $225.00 in a research note on Thursday, January 5th. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Barclays cut their target price on shares of Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a report on Sunday, January 29th. Mizuho cut their target price on shares of Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, January 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, January 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $246.10.

Automatic Data Processing Trading Up 0.0 %

Automatic Data Processing stock opened at $213.59 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $88.50 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $196.61 and a 1 year high of $274.92. The firm’s 50 day moving average price is $228.31 and its two-hundred day moving average price is $237.83.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. Automatic Data Processing had a net margin of 18.24% and a return on equity of 96.94%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.39 billion. During the same period in the previous year, the company posted $1.65 EPS. Automatic Data Processing’s revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Thursday, March 9th. Automatic Data Processing’s payout ratio is presently 66.40%.

Insider Activity at Automatic Data Processing

In related news, insider Carlos A. Rodriguez sold 52,254 shares of Automatic Data Processing stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $234.15, for a total value of $12,235,274.10. Following the completion of the sale, the insider now owns 44,481 shares of the company’s stock, valued at approximately $10,415,226.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 37,594 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $241.29, for a total transaction of $9,071,056.26. Following the completion of the transaction, the insider now owns 44,481 shares of the company’s stock, valued at approximately $10,732,820.49. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carlos A. Rodriguez sold 52,254 shares of the business’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $234.15, for a total transaction of $12,235,274.10. Following the transaction, the insider now directly owns 44,481 shares of the company’s stock, valued at approximately $10,415,226.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,350 shares of company stock valued at $25,301,670. Insiders own 0.33% of the company’s stock.

Automatic Data Processing Company Profile

(Get Rating)

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.