PFG Investments LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

PFG Investments LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,773 shares of the business services provider’s stock after purchasing an additional 292 shares during the quarter. PFG Investments LLC’s holdings in Automatic Data Processing were worth $2,428,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the 2nd quarter worth about $27,000. Keener Financial Planning LLC raised its stake in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the 1st quarter valued at approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $275.33.

Automatic Data Processing Trading Down 0.5 %

NASDAQ:ADP traded down $1.47 during trading hours on Friday, hitting $287.96. The company had a trading volume of 1,691,504 shares, compared to its average volume of 1,626,496. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18. The company has a market cap of $117.86 billion, a P/E ratio of 32.14, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a 50-day moving average of $279.40 and a 200 day moving average of $258.39. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Activity

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently 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.