Diversified Trust Co Purchases 1,683 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversified Trust Co raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,551 shares of the business services provider’s stock after acquiring an additional 1,683 shares during the period. Diversified Trust Co’s holdings in Automatic Data Processing were worth $3,473,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at about $27,000. Keener Financial Planning LLC raised 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 worth $28,000 after purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing in the first quarter valued at $36,000. Finally, Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. 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 90 days. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. upped 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. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Stock Performance

ADP opened at $282.12 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $286.30. The firm has a market cap of $115.47 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The business’s fifty day moving average is $270.94 and its 200-day moving average is $254.06.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

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.