Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Benjamin Edwards Inc.

Benjamin Edwards Inc. raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,390 shares of the business services provider’s stock after acquiring an additional 139 shares during the quarter. Benjamin Edwards Inc.’s holdings in Automatic Data Processing were worth $2,719,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc grew its position in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after acquiring an additional 99,515 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the period. SG Americas Securities LLC boosted its stake in shares of Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the period. Cornerstone Wealth Group LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at about $2,924,000. Finally, LVW Advisors LLC boosted its stake in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after buying an additional 740 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Price Performance

ADP stock opened at $277.69 on Friday. 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, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The business has a 50 day moving average price of $263.99 and a 200 day moving average price of $251.30. The stock has a market cap of $113.66 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Don Mcguire sold 3,179 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $11,440,548.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by 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.