Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Next Capital Management LLC

Next Capital Management LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,442 shares of the business services provider’s stock after buying an additional 72 shares during the period. Next Capital Management LLC’s holdings in Automatic Data Processing were worth $344,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the second quarter worth about $27,000. Keener Financial Planning LLC boosted its position in 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 valued at $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing during the 1st quarter worth $33,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the first quarter worth $36,000. Finally, Pineridge Advisors LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at $39,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America raised their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of 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, Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $267.83.

Automatic Data Processing Stock Up 1.4 %

Shares of Automatic Data Processing stock opened at $276.73 on Tuesday. 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, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The firm has a market capitalization of $113.26 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The stock’s fifty day moving average is $268.23 and its 200-day moving average is $252.95.

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 analysts’ consensus estimates 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 business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. The firm’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 year.

Automatic Data Processing Dividend Announcement

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