NewEdge Advisors LLC Has $45.44 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

NewEdge Advisors LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,356 shares of the business services provider’s stock after acquiring an additional 13,871 shares during the period. NewEdge Advisors LLC’s holdings in Automatic Data Processing were worth $45,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the second quarter worth approximately $27,000. Keener Financial Planning LLC increased its stake in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter valued at $33,000. Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the first quarter worth $36,000. Finally, Pineridge Advisors LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth $39,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several research reports. Bank of America upped their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report 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. 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 research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Stock Down 0.6 %

Automatic Data Processing stock opened at $272.88 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50-day simple moving average is $267.65 and its 200 day simple moving average is $252.66. The stock has a market cap of $111.69 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) 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 return on equity of 89.20% and a net margin of 19.54%. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. Research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared 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 2.05%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated 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 sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by company insiders.

Automatic Data Processing 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.