Aprio Wealth Management LLC Purchases New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Aprio Wealth Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 861 shares of the business services provider’s stock, valued at approximately $238,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the 2nd quarter valued at about $27,000. Keener Financial Planning LLC increased 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 worth $28,000 after purchasing an additional 76 shares during the period. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $36,000. Finally, Pineridge Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,817 shares of company stock worth $15,999,208 over the last quarter. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ADP. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. 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 report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Price Performance

ADP stock opened at $285.42 on Wednesday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $286.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $271.48 and its 200 day moving average price is $254.30. The firm has a market cap of $116.82 billion, a P/E ratio of 31.85, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 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.