Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,378 shares of the business services provider’s stock after acquiring an additional 585 shares during the period. SRS Capital Advisors Inc.’s holdings in Automatic Data Processing were worth $806,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADP. Keener Financial Planning LLC increased its holdings 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 purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $36,000. New Millennium Group LLC purchased a new position in Automatic Data Processing in the 2nd quarter valued at approximately $40,000. Finally, Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The disclosure for this sale can be found here. Insiders sold 49,614 shares of company stock valued at $13,519,460 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ADP shares. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of 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 Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. increased their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Trading Down 0.2 %

Shares of NASDAQ ADP traded down $0.61 during trading on Friday, hitting $269.56. 2,814,514 shares of the company traded hands, compared to its average volume of 1,648,719. The firm has a market capitalization of $110.33 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.00 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $256.39 and a 200-day moving average price of $249.73. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, equities analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

About Automatic Data Processing

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.