Automatic Data Processing, Inc. (NASDAQ:ADP) is SYSTM Wealth Solutions LLC’s 6th Largest Position

SYSTM Wealth Solutions LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,362 shares of the business services provider’s stock after selling 5,344 shares during the quarter. Automatic Data Processing makes up approximately 1.7% of SYSTM Wealth Solutions LLC’s portfolio, making the stock its 6th biggest position. SYSTM Wealth Solutions LLC’s holdings in Automatic Data Processing were worth $7,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. lifted its stake in Automatic Data Processing by 1.7% in the second quarter. E Fund Management Co. Ltd. now owns 4,111 shares of the business services provider’s stock valued at $981,000 after buying an additional 68 shares during the last quarter. Financial & Tax Architects LLC lifted its stake in Automatic Data Processing by 6.3% in the second quarter. Financial & Tax Architects LLC now owns 24,583 shares of the business services provider’s stock valued at $5,868,000 after buying an additional 1,462 shares during the last quarter. Tower Wealth Partners Inc. lifted its stake in Automatic Data Processing by 7.3% in the second quarter. Tower Wealth Partners Inc. now owns 1,019 shares of the business services provider’s stock valued at $243,000 after buying an additional 69 shares during the last quarter. Edgestream Partners L.P. lifted its stake in Automatic Data Processing by 237.6% in the second quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock valued at $1,606,000 after buying an additional 4,735 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after buying an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Shares of ADP stock opened at $279.41 on Wednesday. The business’s fifty day moving average price is $262.31 and its 200 day moving average price is $250.94. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $281.54. The firm has a market capitalization of $114.36 billion, a PE ratio of 31.18, a P/E/G ratio of 3.02 and a beta of 0.79. 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 (NASDAQ:ADP) last announced its quarterly earnings data 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 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 posted $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction 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 $9,899,862.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Barclays boosted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Monday, September 9th. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $265.36.

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.