Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 33,319.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,018 shares of the business services provider’s stock after purchasing an additional 6,997 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Automatic Data Processing were worth $1,675,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing in the 2nd quarter valued at about $27,000. Keener Financial Planning LLC lifted its position in shares of Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter worth approximately $33,000. Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth approximately $36,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $39,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of 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 boosted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America upped their price objective 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Two 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. According to data from MarketBeat.com, Automatic Data Processing 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 Monday. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $281.54. The stock’s fifty day moving average is $264.76 and its two-hundred day moving average is $251.61. The company has a market capitalization 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 quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

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 (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP David Kwon sold 846 shares of the stock in a transaction dated 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 owns 10,410 shares of the company’s stock, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $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 over the last quarter. 0.26% of the stock is owned by company 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.