Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 11.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,350 shares of the business services provider’s stock after selling 176 shares during the quarter. Laidlaw Wealth Management LLC’s holdings in Automatic Data Processing were worth $307,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $566,438,000. Aaron Wealth Advisors LLC grew its position in shares of Automatic Data Processing by 23,114.1% in the first quarter. Aaron Wealth Advisors LLC now owns 1,481,057 shares of the business services provider’s stock valued at $6,509,000 after purchasing an additional 1,474,677 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Automatic Data Processing by 1,386.1% in the fourth quarter. Mackenzie Financial Corp now owns 1,531,541 shares of the business services provider’s stock valued at $377,647,000 after purchasing an additional 1,428,484 shares during the last quarter. BlackRock Inc. increased its stake in shares of Automatic Data Processing by 2.6% in the fourth quarter. BlackRock Inc. now owns 31,994,621 shares of the business services provider’s stock worth $7,889,233,000 after purchasing an additional 817,884 shares during the period. Finally, State Street Corp lifted its position in shares of Automatic Data Processing by 2.0% during the 4th quarter. State Street Corp now owns 18,427,297 shares of the business services provider’s stock worth $4,562,432,000 after purchasing an additional 357,520 shares during the last quarter. 79.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ADP. 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 report on Thursday, July 28th. Barclays lifted their price objective on Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Mizuho upped their target price 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. Cowen lifted their price objective on Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Finally, Wolfe Research cut their target price on Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $235.92.

Insider Activity

In other Automatic Data Processing news, VP Donald Weinstein sold 10,150 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the transaction, the vice president now owns 41,035 shares of the company’s stock, valued at $10,258,750. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Automatic Data Processing news, VP Donald Weinstein sold 10,150 shares of Automatic Data Processing stock in a transaction on Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the completion of the transaction, the vice president now directly owns 41,035 shares of the company’s stock, valued at $10,258,750. The transaction was disclosed in a document filed with the SEC, which is available at 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 directly owns 4,238 shares in the company, valued at $892,692.32. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $238.48 on Friday. 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 business has a 50-day moving average of $233.31 and a 200-day moving average of $221.90. The stock has a market capitalization of $99.09 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 2.58 and a beta of 0.84. Automatic Data Processing, Inc. has a fifty-two week low of $192.26 and a fifty-two week high of $261.59.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.34%.

Automatic Data Processing Profile

(Get Rating)

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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