West Family Investments Inc. Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

West Family Investments Inc. raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 9.8% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,143 shares of the business services provider’s stock after buying an additional 191 shares during the period. West Family Investments Inc.’s holdings in Automatic Data Processing were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. First Hawaiian Bank raised its stake in shares of Automatic Data Processing by 1.1% during the 1st quarter. First Hawaiian Bank now owns 4,176 shares of the business services provider’s stock valued at $950,000 after buying an additional 45 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Automatic Data Processing by 1.4% in the 1st quarter. Lindbrook Capital LLC now owns 3,302 shares of the business services provider’s stock valued at $751,000 after purchasing an additional 46 shares in the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of Automatic Data Processing by 0.4% in the 1st quarter. Atlantic Union Bankshares Corp now owns 10,589 shares of the business services provider’s stock valued at $2,409,000 after purchasing an additional 47 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of Automatic Data Processing by 0.8% in the 1st quarter. Jacobi Capital Management LLC now owns 5,585 shares of the business services provider’s stock valued at $1,271,000 after purchasing an additional 47 shares in the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Automatic Data Processing by 1.4% in the 1st quarter. Empowered Funds LLC now owns 3,480 shares of the business services provider’s stock valued at $792,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the sale, the vice president now owns 4,238 shares of the company’s stock, valued at $892,692.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the sale, the vice president now owns 4,238 shares of the company’s stock, valued at $892,692.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Donald Weinstein sold 10,150 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $250.00, for a total value of $2,537,500.00. Following the sale, the vice president now directly owns 41,035 shares in the company, valued at approximately $10,258,750. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 0.5 %

ADP opened at $241.94 on Friday. Automatic Data Processing, Inc. has a one year low of $192.26 and a one year high of $261.59. The stock has a market capitalization of $100.53 billion, a PE ratio of 34.51, a P/E/G ratio of 2.47 and a beta of 0.82. The business’s 50 day moving average price is $236.53 and its 200 day moving average price is $223.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.99 and a current ratio of 0.99.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.05 billion. During the same period in the prior year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 8.05 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, September 8th. Automatic Data Processing’s payout ratio is 59.34%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Cowen lifted their price target on Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Wolfe Research cut their price target on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Mizuho lifted their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a report on Monday, August 1st. Barclays lifted their price objective on Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Finally, Morgan Stanley lifted their price objective on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $235.92.

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.

See Also

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

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