Segment Wealth Management LLC Acquires 85 Shares of Automatic Data Processing (NASDAQ:ADP)

Segment Wealth Management LLC increased its holdings in Automatic Data Processing (NASDAQ:ADP) by 0.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 34,551 shares of the business services provider’s stock after purchasing an additional 85 shares during the quarter. Automatic Data Processing accounts for about 1.2% of Segment Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Segment Wealth Management LLC’s holdings in Automatic Data Processing were worth $5,712,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Horan Capital Advisors LLC. bought a new position in Automatic Data Processing in the first quarter worth approximately $31,000. Paragon Capital Management LLC purchased a new position in Automatic Data Processing in the first quarter worth $32,000. C J Advisory Inc purchased a new position in Automatic Data Processing in the first quarter worth $32,000. Cypress Capital Management LLC WY grew its holdings in Automatic Data Processing by 257.1% in the first quarter. Cypress Capital Management LLC WY now owns 200 shares of the business services provider’s stock worth $32,000 after purchasing an additional 144 shares during the last quarter. Finally, Permanens Capital L.P. purchased a new position in Automatic Data Processing in the first quarter worth $32,000. 79.77% of the stock is owned by institutional investors.

In related news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the completion of the transaction, the vice president now owns 14,896 shares in the company, valued at approximately $2,413,747.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

NASDAQ ADP traded down $2.09 on Friday, reaching $168.23. 62,934 shares of the company’s stock traded hands, compared to its average volume of 2,118,978. The stock has a market cap of $73.66 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 2.04 and a beta of 0.91. The business has a 50 day moving average of $165.83. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $172.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.04 and a current ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts expect that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.79 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.88%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.98%.

Several research firms have issued reports on ADP. Robert W. Baird lifted their price target on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. ValuEngine lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price target on the stock in a report on Friday, June 21st. Citigroup lifted their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $170.64.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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