Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,510 shares of the business services provider’s stock after purchasing an additional 185 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Automatic Data Processing were worth $1,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter worth about $27,000. Keener Financial Planning LLC raised its position in shares of Automatic Data Processing by 230.3% in 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 during the last quarter. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter worth approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter worth approximately $36,000. Finally, New Millennium Group LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $40,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was 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 owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP opened at $276.41 on Friday. The firm has a fifty day moving average price of $264.76 and a 200 day moving average price of $251.56. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The stock has a market cap of $113.13 billion, a P/E ratio of 30.85, a P/E/G ratio of 3.02 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released 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 net margin of 19.54% and a return on equity of 89.20%. 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 company 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 year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analyst Weigh In

ADP has been the subject of several research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Bank of America lifted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Company 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.