D.A. Davidson & CO. Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

D.A. Davidson & CO. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 0.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,592 shares of the business services provider’s stock after purchasing an additional 2,041 shares during the period. D.A. Davidson & CO.’s holdings in Automatic Data Processing were worth $59,312,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ADP. Principal Financial Group Inc. raised its holdings in Automatic Data Processing by 0.3% during the third quarter. Principal Financial Group Inc. now owns 533,799 shares of the business services provider’s stock worth $128,421,000 after purchasing an additional 1,839 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Automatic Data Processing by 10.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,814 shares of the business services provider’s stock valued at $2,120,000 after buying an additional 842 shares in the last quarter. CNB Bank increased its holdings in Automatic Data Processing by 1,087.2% in the third quarter. CNB Bank now owns 1,021 shares of the business services provider’s stock valued at $246,000 after buying an additional 935 shares in the last quarter. Dai ichi Life Insurance Company Ltd increased its holdings in Automatic Data Processing by 9.0% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 41,301 shares of the business services provider’s stock valued at $9,936,000 after buying an additional 3,403 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Automatic Data Processing by 139.1% in the third quarter. JFS Wealth Advisors LLC now owns 1,002 shares of the business services provider’s stock valued at $241,000 after buying an additional 583 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares in the company, valued at approximately $5,159,958.41. The disclosure for this sale can be found here. Insiders have sold a total of 2,966 shares of company stock worth $749,524 in the last quarter. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ADP shares. Barclays increased their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Finally, TD Cowen dropped their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $255.42.

Read Our Latest Stock Analysis on Automatic Data Processing

Automatic Data Processing Trading Down 0.4 %

NASDAQ ADP traded down $1.03 during mid-day trading on Monday, reaching $251.30. 415,959 shares of the stock were exchanged, compared to its average volume of 1,708,017. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The business’s fifty day simple moving average is $245.37 and its 200 day simple moving average is $240.35. The stock has a market capitalization of $102.85 billion, a PE ratio of 28.16, a PEG ratio of 2.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.52 EPS. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.23%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Automatic Data Processing Profile

(Free Report)

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

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

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