Ferguson Wellman Capital Management Inc. Raises Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ferguson Wellman Capital Management Inc. increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 1.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 12,454 shares of the business services provider’s stock after purchasing an additional 140 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Automatic Data Processing were worth $2,616,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ADP. Atticus Wealth Management LLC grew its position in Automatic Data Processing by 203.7% in the 2nd quarter. Atticus Wealth Management LLC now owns 410 shares of the business services provider’s stock valued at $86,000 after acquiring an additional 275 shares during the last quarter. IMS Capital Management grew its position in Automatic Data Processing by 1.9% in the 2nd quarter. IMS Capital Management now owns 6,732 shares of the business services provider’s stock valued at $1,414,000 after acquiring an additional 123 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Automatic Data Processing by 1.0% in the 2nd quarter. Gateway Investment Advisers LLC now owns 190,336 shares of the business services provider’s stock valued at $39,978,000 after acquiring an additional 1,913 shares during the last quarter. Carnegie Capital Asset Management LLC grew its position in Automatic Data Processing by 20.6% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 10,442 shares of the business services provider’s stock valued at $2,070,000 after acquiring an additional 1,787 shares during the last quarter. Finally, Castle Rock Wealth Management LLC grew its position in Automatic Data Processing by 47.9% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 3,696 shares of the business services provider’s stock valued at $800,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Carlos A. Rodriguez sold 37,594 shares of Automatic Data Processing stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $237.95, for a total value of $8,945,492.30. Following the completion of the sale, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,571,166.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carlos A. Rodriguez sold 37,594 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $237.95, for a total value of $8,945,492.30. Following the completion of the sale, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,571,166.70. The disclosure for this sale can be found here. Insiders sold a total of 107,349 shares of company stock valued at $25,576,129 over the last quarter. 0.34% of the stock is owned by insiders.

Automatic Data Processing Stock Up 0.0 %

Automatic Data Processing stock opened at $230.47 on Friday. The firm has a market cap of $95.76 billion, a price-to-earnings ratio of 32.88, a price-to-earnings-growth ratio of 2.42 and a beta of 0.82. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $261.59. The business’s 50-day moving average price is $240.78 and its 200 day moving average price is $225.72. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.

Automatic Data Processing (NASDAQ:ADPGet Rating) last released its earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.02. The business had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, September 8th. This represents a $4.16 annualized dividend and a yield of 1.81%. Automatic Data Processing’s dividend payout ratio (DPR) is 59.34%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Cowen upped their price objective on Automatic Data Processing from $230.00 to $236.00 in a research report on Tuesday. Morgan Stanley upped their price objective on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Cowen upped their price objective on Automatic Data Processing from $230.00 to $236.00 in a research note on Tuesday. Barclays upped their price objective on Automatic Data Processing to $280.00 in a research note on Tuesday, August 9th. Finally, Mizuho upped their price objective on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $236.85.

Automatic Data Processing Profile

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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.

See Also

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:ADPGet Rating).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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