Evanson Asset Management LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Evanson Asset Management LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,089 shares of the business services provider’s stock after purchasing an additional 238 shares during the period. Evanson Asset Management LLC’s holdings in Automatic Data Processing were worth $301,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Aprio Wealth Management LLC bought a new position in Automatic Data Processing during the 3rd quarter valued at approximately $238,000. Versant Capital Management Inc grew its position in shares of Automatic Data Processing by 36.6% in the 3rd quarter. Versant Capital Management Inc now owns 1,072 shares of the business services provider’s stock worth $297,000 after buying an additional 287 shares during the last quarter. Bath Savings Trust Co increased its stake in shares of Automatic Data Processing by 1.3% during the third quarter. Bath Savings Trust Co now owns 97,348 shares of the business services provider’s stock valued at $26,939,000 after buying an additional 1,251 shares during the period. McLean Asset Management Corp bought a new position in shares of Automatic Data Processing during the third quarter valued at approximately $219,000. Finally, Miracle Mile Advisors LLC lifted its stake in Automatic Data Processing by 16.3% in the third quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock worth $623,000 after acquiring an additional 316 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing 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 completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $285.42 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $286.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $116.82 billion, a P/E ratio of 31.85, a PEG ratio of 3.02 and a beta of 0.79. The stock’s 50 day moving average is $271.48 and its 200 day moving average is $254.30.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm posted $1.89 earnings per share. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. 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. Bank of America raised their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group increased their target price 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. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $267.83.

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.