Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 33,258.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 48,704 shares of the business services provider’s stock after purchasing an additional 48,558 shares during the period. Pathway Financial Advisers LLC’s holdings in Automatic Data Processing were worth $13,478,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADP. Forsta AP Fonden raised its holdings in shares of Automatic Data Processing by 5.5% in the 3rd quarter. Forsta AP Fonden now owns 131,900 shares of the business services provider’s stock worth $36,501,000 after purchasing an additional 6,900 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Automatic Data Processing by 19.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,233 shares of the business services provider’s stock valued at $30,626,000 after buying an additional 18,610 shares during the period. BKM Wealth Management LLC lifted its position in Automatic Data Processing by 16.7% during the third quarter. BKM Wealth Management LLC now owns 5,631 shares of the business services provider’s stock valued at $1,558,000 after buying an additional 804 shares in the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in Automatic Data Processing during the third quarter worth approximately $202,000. Finally, Country Club Bank increased its position in shares of Automatic Data Processing by 1.8% in the third quarter. Country Club Bank now owns 5,805 shares of the business services provider’s stock worth $1,584,000 after acquiring an additional 105 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing 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 value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ADP shares. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note 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 report on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $275.33.

Automatic Data Processing Stock Performance

Shares of ADP stock traded down $1.47 on Friday, hitting $287.96. 1,691,504 shares of the stock traded hands, compared to its average volume of 1,626,496. The company has a market capitalization of $117.86 billion, a PE ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. The company’s fifty day moving average is $279.40 and its 200 day moving average is $258.39. 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 $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) 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 company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $1.89 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend 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.