Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,645 shares of the business services provider’s stock after acquiring an additional 127 shares during the period. SeaCrest Wealth Management LLC’s holdings in Automatic Data Processing were worth $808,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after buying an additional 38 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing in the fourth quarter worth $37,000. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing in the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing in the fourth quarter worth $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ADP has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a report on Friday, May 2nd. UBS Group lifted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. TD Securities boosted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $305.64.

Automatic Data Processing Trading Up 0.2%

NASDAQ:ADP opened at $326.81 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The stock’s 50-day moving average is $305.96 and its two-hundred day moving average is $302.63. The stock has a market cap of $132.66 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 earnings per share. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,451 shares of company stock worth $743,024. 0.21% 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.