Edgestream Partners L.P. Has $1.61 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Edgestream Partners L.P. increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 237.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,728 shares of the business services provider’s stock after purchasing an additional 4,735 shares during the period. Edgestream Partners L.P.’s holdings in Automatic Data Processing were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADP. Gryphon Financial Partners LLC boosted its holdings in Automatic Data Processing by 105.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock worth $467,000 after purchasing an additional 1,034 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Automatic Data Processing by 9.5% in the 4th quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock valued at $674,000 after acquiring an additional 251 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Automatic Data Processing by 4.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,598 shares of the business services provider’s stock valued at $372,000 after acquiring an additional 63 shares during the last quarter. InterOcean Capital Group LLC raised its holdings in Automatic Data Processing by 5.6% during the fourth quarter. InterOcean Capital Group LLC now owns 3,934 shares of the business services provider’s stock worth $916,000 after acquiring an additional 207 shares in the last quarter. Finally, AXS Investments LLC boosted its position in Automatic Data Processing by 1.8% during the fourth quarter. AXS Investments LLC now owns 14,414 shares of the business services provider’s stock valued at $3,358,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $277.69 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $113.66 billion, a P/E ratio of 30.99, a PEG ratio of 3.02 and a beta of 0.79. The stock has a 50 day simple moving average of $263.99 and a 200 day simple moving average of $251.30. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the firm earned $1.89 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADP shares. Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group increased their price target on shares of 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 restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $265.36.

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 shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing 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 of the company’s stock, valued at $2,816,946. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

About Automatic Data Processing

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.