Wealth Alliance Sells 162 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealth Alliance cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,869 shares of the business services provider’s stock after selling 162 shares during the quarter. Wealth Alliance’s holdings in Automatic Data Processing were worth $685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keener Financial Planning LLC grew its stake in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing during the 1st quarter valued at $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the 1st quarter valued at $36,000. New Millennium Group LLC acquired a new stake in Automatic Data Processing during the 2nd quarter valued at $40,000. Finally, Pineridge Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter valued at $39,000. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group lifted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Stock Down 1.3 %

ADP stock opened at $275.91 on Thursday. The company has a market cap of $112.93 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The business has a 50-day simple moving average of $263.15 and a 200 day simple moving average of $251.11. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $281.54. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business 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%. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. Insiders own 0.26% of the company’s stock.

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.