Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Increased by Avantax Planning Partners Inc.

Avantax Planning Partners Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 144.7% during the 1st quarter, HoldingsChannel reports. The firm owned 10,229 shares of the business services provider’s stock after buying an additional 6,048 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Automatic Data Processing were worth $2,328,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AGF Investments Inc. increased its stake in Automatic Data Processing by 87.0% during the 4th quarter. AGF Investments Inc. now owns 1,496 shares of the business services provider’s stock valued at $369,000 after buying an additional 696 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $58,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $836,000. Pinnacle Associates Ltd. boosted its holdings in shares of Automatic Data Processing by 27.6% in the fourth quarter. Pinnacle Associates Ltd. now owns 13,559 shares of the business services provider’s stock worth $3,343,000 after buying an additional 2,932 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Automatic Data Processing by 1.3% in the fourth quarter. Oppenheimer & Co. Inc. now owns 35,961 shares of the business services provider’s stock worth $8,867,000 after buying an additional 458 shares during the period. 78.84% of the stock is currently owned by institutional investors.

Insider Activity

In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the transaction, the vice president now owns 4,238 shares of the company’s stock, valued at $892,692.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total transaction of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares in the company, valued at approximately $892,692.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the transaction, the vice president now owns 1,663 shares in the company, valued at $355,998.41. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Automatic Data Processing Trading Up 1.3 %

Shares of ADP stock traded up $3.21 during mid-day trading on Friday, reaching $247.20. 1,168,798 shares of the stock traded hands, compared to its average volume of 1,483,117. The stock’s fifty day simple moving average is $218.44 and its two-hundred day simple moving average is $216.21. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The company has a market cap of $102.72 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. Automatic Data Processing, Inc. has a 1-year low of $192.26 and a 1-year high of $248.96.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. The company had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 8.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, September 8th. This represents a $4.16 annualized dividend and a dividend yield of 1.68%. Automatic Data Processing’s dividend payout ratio is 59.34%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADP. Citigroup lifted their target price on shares of Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. Mizuho upped their price target on shares of Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. Wolfe Research lowered their price target on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Finally, Barclays increased their target price on Automatic Data Processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $232.20.

Automatic Data Processing Company Profile

(Get Rating)

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)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.