WESPAC Advisors LLC Acquires Shares of 726 Automatic Data Processing, Inc. (NASDAQ:ADP)

WESPAC Advisors LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 726 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently made changes to their positions in the company. Lane & Associates LLC raised its stake in Automatic Data Processing by 50.2% in the 3rd quarter. Lane & Associates LLC now owns 2,815 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 941 shares during the period. KKM Financial LLC raised its position in shares of Automatic Data Processing by 6.2% in the third quarter. KKM Financial LLC now owns 10,118 shares of the business services provider’s stock valued at $2,800,000 after purchasing an additional 588 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 3.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 28,865 shares of the business services provider’s stock valued at $7,988,000 after buying an additional 1,008 shares in the last quarter. Cerity Partners LLC boosted its holdings in Automatic Data Processing by 11.4% in the 3rd quarter. Cerity Partners LLC now owns 184,177 shares of the business services provider’s stock worth $50,976,000 after buying an additional 18,793 shares during the period. Finally, Optivise Advisory Services LLC purchased a new position in Automatic Data Processing in the 3rd quarter valued at approximately $444,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADP shares. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Mizuho boosted 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 note on Monday, November 4th. Two 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 company has a consensus rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 23.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,946 shares of company stock worth $27,462,781 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $305.15 on Friday. The company’s fifty day moving average price is $289.55 and its 200-day moving average price is $266.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.54 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

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.