Brighton Jones LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Brighton Jones LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,026 shares of the business services provider’s stock after purchasing an additional 255 shares during the period. Brighton Jones LLC’s holdings in Automatic Data Processing were worth $1,916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Keener Financial Planning LLC boosted its stake in shares of Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the first quarter worth about $33,000. Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter valued at approximately $36,000. New Millennium Group LLC bought a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $40,000. Finally, Pineridge Advisors LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $39,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.5 %

NASDAQ:ADP opened at $276.41 on Friday. The stock has a market cap of $113.13 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average price is $264.76 and its 200-day moving average price is $251.51. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business posted $1.89 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group raised their target price 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. Two 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $265.36.

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.