Waterloo Capital L.P. Acquires 98 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Waterloo Capital L.P. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,057 shares of the business services provider’s stock after purchasing an additional 98 shares during the period. Waterloo Capital L.P.’s holdings in Automatic Data Processing were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ADP. Keener Financial Planning LLC raised its stake in 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 purchasing an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. New Millennium Group LLC bought a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $40,000. Finally, Pineridge Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several research analyst reports. Bank of America boosted 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 report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays increased their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $265.36.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, 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 value of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 19,147 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 value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last ninety days. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Up 0.6 %

Shares of NASDAQ ADP opened at $277.69 on Friday. The company has a 50 day simple moving average of $263.99 and a 200 day simple moving average of $251.30. 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, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54. The firm has a market cap of $113.66 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results 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. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is 62.50%.

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.