Kiely Wealth Advisory Group Inc. Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 104 shares of the business services provider’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TD Asset Management Inc lifted its stake in Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Automatic Data Processing by 70.7% in the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after purchasing an additional 264,466 shares during the period. SG Americas Securities LLC increased its stake in shares of Automatic Data Processing by 195.1% in the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after purchasing an additional 34,118 shares during the period. Cornerstone Wealth Group LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $2,924,000. Finally, LVW Advisors LLC boosted its position in shares of Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after buying an additional 740 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, 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 legal filing with the SEC, which is available through the SEC website. Also, CEO Maria Black sold 19,147 shares of the company’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 $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last three months. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $265.36.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $276.41 on Friday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The stock’s 50-day moving average price is $264.76 and its two-hundred day moving average price is $251.51. The company has a market cap of $113.13 billion, a PE ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the company posted $1.89 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

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

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.