Segment Wealth Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) 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 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.
View Our Latest Stock Report on Automatic Data Processing
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.
Read More
- Five stocks we like better than Automatic Data Processing
- Investing in Construction Stocks
- Cisco: Why Analysts Are Targeting 35% Gains by Christmas
- Are Penny Stocks a Good Fit for Your Portfolio?
- How Verizon Could Offer Stress-Free Double-Digit Returns in 2025
- How to Know Which Cryptocurrency to Buy: A Guide for Investors
- Can Roche Challenge Lilly and Novo in the Weight Loss Market?
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.