Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by Accretive Wealth Partners LLC

Accretive Wealth Partners LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,097 shares of the business services provider’s stock after selling 125 shares during the quarter. Accretive Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,241,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ADP. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the second quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its holdings in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter worth about $35,000. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing during the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective 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. Finally, Stifel Nicolaus boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the business’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 owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 23.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,946 shares of company stock worth $27,462,781. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $304.69 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $124.15 billion, a PE ratio of 32.52, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The company’s 50-day moving average price is $288.99 and its two-hundred day moving average price is $265.44.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

About Automatic Data Processing

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.