2,187 Automatic Data Processing, Inc. $ADP Shares Acquired by True Freedom Investing LLC

True Freedom Investing LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,260 shares of the business services provider’s stock after purchasing an additional 2,187 shares during the period. True Freedom Investing LLC’s holdings in Automatic Data Processing were worth $6,003,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Polaris Financial Partners acquired a new stake in Automatic Data Processing in the third quarter valued at $25,000. Whipplewood Advisors LLC increased its holdings in shares of Automatic Data Processing by 2,740.0% in the 1st quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Automatic Data Processing in the second quarter valued at about $34,000. Cornerstone Financial Management LLC boosted its holdings in Automatic Data Processing by 59.2% during the second quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 58 shares in the last quarter. Finally, DecisionPoint Financial LLC increased its holdings in Automatic Data Processing by 5,133.3% in the third quarter. DecisionPoint Financial LLC now owns 157 shares of the business services provider’s stock valued at $41,000 after buying an additional 154 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Joseph Desilva sold 631 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares in the company, valued at approximately $5,324,744.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the sale, the chief executive officer directly owned 80,624 shares in the company, valued at approximately $22,648,087.84. The trade was a 26.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 31,359 shares of company stock worth $8,809,422 in the last three months. Company insiders own 0.15% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $293.84 on Monday. The company has a 50-day simple moving average of $277.25 and a 200-day simple moving average of $240.83. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.05. The company has a market cap of $116.43 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 2.64 and a beta of 0.83. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $309.40.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm posted $2.49 earnings per share. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.36 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were issued a dividend of $1.70 per share. The ex-dividend date was Friday, September 11th. This represents a $6.80 annualized dividend and a dividend yield of 2.3%. Automatic Data Processing’s dividend payout ratio (DPR) is 60.28%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADP. Wells Fargo & Company boosted their price target on Automatic Data Processing from $248.00 to $283.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Guggenheim restated a “buy” rating and issued a $340.00 price target on shares of Automatic Data Processing in a research report on Thursday. Stifel Nicolaus lifted their price target on Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. Citigroup boosted their price objective on shares of Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Morgan Stanley raised their target price on shares of Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $285.00.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.