Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Regal Investment Advisors LLC

Regal Investment Advisors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,342 shares of the business services provider’s stock after purchasing an additional 1,401 shares during the quarter. Regal Investment Advisors LLC’s holdings in Automatic Data Processing were worth $3,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC increased its position in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $39,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP opened at $276.73 on Tuesday. The firm has a market cap of $113.26 billion, a PE ratio of 30.89, a P/E/G 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. The business has a fifty day simple moving average of $268.23 and a 200-day simple moving average of $252.95. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during 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%. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. As a group, equities 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 announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 846 shares of the firm’s stock in a transaction 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 owns 10,410 shares of the company’s stock, valued at $2,816,946. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction 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 filing with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last quarter. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Stifel Nicolaus lifted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, 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. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.