Ted Buchan & Co Purchases New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ted Buchan & Co purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 990 shares of the business services provider’s stock, valued at approximately $236,000.

A number of other institutional investors have also recently added to or reduced their stakes in ADP. Bank of Nova Scotia grew its stake in Automatic Data Processing by 21.6% in the 4th quarter. Bank of Nova Scotia now owns 66,515 shares of the business services provider’s stock valued at $15,495,000 after acquiring an additional 11,799 shares during the period. CWA Asset Management Group LLC boosted its stake in Automatic Data Processing by 47.2% during the 4th quarter. CWA Asset Management Group LLC now owns 3,319 shares of the business services provider’s stock worth $773,000 after purchasing an additional 1,064 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Automatic Data Processing by 20.2% during the 4th quarter. Rafferty Asset Management LLC now owns 80,709 shares of the business services provider’s stock worth $18,803,000 after purchasing an additional 13,577 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Automatic Data Processing by 29.8% during the 4th quarter. Belpointe Asset Management LLC now owns 4,248 shares of the business services provider’s stock worth $990,000 after purchasing an additional 975 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth $1,497,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADP. Bank of America boosted their price target 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. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, 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 report on Tuesday, August 20th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Stock Up 1.4 %

ADP stock opened at $276.73 on Tuesday. The company’s 50 day moving average price is $268.23 and its 200 day moving average price is $252.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $281.54. The firm has a market capitalization of $113.26 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping 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 firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Activity at Automatic Data Processing

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 transaction of $228,927.60. Following the completion of the sale, the vice president now 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. 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 transaction of $228,927.60. Following the completion of the sale, the vice president now 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, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last three months. 0.26% of the stock is owned by corporate insiders.

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.