Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Cypress Wealth Services LLC

Cypress Wealth Services LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% in the third quarter, HoldingsChannel.com reports. The firm owned 896 shares of the business services provider’s stock after buying an additional 41 shares during the quarter. Cypress Wealth Services LLC’s holdings in Automatic Data Processing were worth $248,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Moors & Cabot Inc. grew its holdings in Automatic Data Processing by 0.7% during the 2nd 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. Schmidt P J Investment Management Inc. raised its holdings in Automatic Data Processing by 0.4% in the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after buying an additional 40 shares during the period. Confluence Wealth Services Inc. lifted its holdings in shares of Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 41 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Automatic Data Processing by 1.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after purchasing an additional 43 shares during the period. Finally, Patron Partners LLC lifted its stake in shares of Automatic Data Processing by 1.6% during the first quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.3 %

ADP stock opened at $286.91 on Friday. The firm has a fifty day moving average price of $272.54 and a two-hundred day moving average price of $254.80. 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, Inc. has a 1-year low of $205.53 and a 1-year high of $288.30. The firm has a market cap of $117.43 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADP. Bank of America increased their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Barclays raised their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $267.83.

Insider Buying and Selling

In other news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the sale, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 in the last three months. 0.26% of the stock is owned by insiders.

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.