Prio Wealth Limited Partnership Has $11.04 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Prio Wealth Limited Partnership reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 46,240 shares of the business services provider’s stock after selling 16,873 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Automatic Data Processing were worth $11,037,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter valued at $27,000. Keener Financial Planning LLC increased its stake 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 buying an additional 76 shares during the period. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $33,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $36,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $39,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $7,164,724.32. Following the completion of the sale, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 92,807 shares in the company, valued at approximately $25,464,384.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $280.08 on Wednesday. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $281.54. The company has a market cap of $114.63 billion, a PE ratio of 31.26, a P/E/G ratio of 3.02 and a beta of 0.79. The stock has a 50-day moving average of $268.86 and a 200-day moving average of $253.22. 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 announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 earnings per share. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada reaffirmed 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. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $267.83.

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.