Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Lifted by Segment Wealth Management LLC

Segment Wealth Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,406 shares of the business services provider’s stock after acquiring an additional 281 shares during the quarter. Segment Wealth Management LLC’s holdings in Automatic Data Processing were worth $16,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Stanley Laman Group Ltd. lifted its holdings in Automatic Data Processing by 9.0% in the third quarter. Stanley Laman Group Ltd. now owns 16,281 shares of the business services provider’s stock worth $4,505,000 after acquiring an additional 1,339 shares during the last quarter. Pictet North America Advisors SA raised its position in shares of Automatic Data Processing by 324.7% during the 3rd quarter. Pictet North America Advisors SA now owns 14,545 shares of the business services provider’s stock worth $4,025,000 after purchasing an additional 11,120 shares during the period. Symphony Financial Ltd. Co. lifted its holdings in shares of Automatic Data Processing by 64.5% in the 3rd quarter. Symphony Financial Ltd. Co. now owns 2,130 shares of the business services provider’s stock worth $583,000 after purchasing an additional 835 shares during the last quarter. Waldron Private Wealth LLC boosted its position in Automatic Data Processing by 3.4% during the 3rd quarter. Waldron Private Wealth LLC now owns 2,792 shares of the business services provider’s stock valued at $776,000 after purchasing an additional 93 shares during the period. Finally, Pegasus Asset Management Inc. boosted its position in Automatic Data Processing by 0.6% during the 3rd quarter. Pegasus Asset Management Inc. now owns 9,202 shares of the business services provider’s stock valued at $2,546,000 after purchasing an additional 55 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

ADP opened at $291.34 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The company has a market capitalization of $119.24 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The business has a 50 day moving average price of $277.86 and a two-hundred day moving average price of $257.66. 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 issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.74 billion. During the same period in the previous year, the business earned $1.89 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS 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 paid a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Barclays lifted their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America boosted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Stifel Nicolaus boosted their price objective 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. 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $275.33.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

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.