Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Sienna Gestion

Sienna Gestion grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,667 shares of the business services provider’s stock after acquiring an additional 268 shares during the quarter. Sienna Gestion’s holdings in Automatic Data Processing were worth $5,408,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Gryphon Financial Partners LLC grew its stake in Automatic Data Processing by 105.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares during the last quarter. Norges Bank purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $308,321,000. Quest Partners LLC acquired a new position in Automatic Data Processing in the 4th quarter worth approximately $793,000. Assetmark Inc. raised its position in Automatic Data Processing by 9.5% during the 4th quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock worth $674,000 after buying an additional 251 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC raised its position in Automatic Data Processing by 23.8% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 1,125 shares of the business services provider’s stock worth $262,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $275.91 on Thursday. The firm’s fifty day simple moving average is $263.15 and its two-hundred day simple moving average is $251.11. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $281.54. The company has a market cap of $112.93 billion, a price-to-earnings ratio of 30.79, a PEG 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 posted its quarterly earnings data 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. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the firm posted $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate 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 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. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s payout ratio is currently 62.50%.

Insiders Place Their Bets

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 value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 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 completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of the 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 sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. 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 in the last 90 days. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ADP. JPMorgan Chase & Co. upped their price objective 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. Bank of America lifted their price objective on 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 raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Barclays raised 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 note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $265.36.

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.