833 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by New England Professional Planning Group Inc.

by · The Markets Daily

New England Professional Planning Group Inc. bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 833 shares of the business services provider’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth approximately $27,000. Keener Financial Planning LLC boosted its stake in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.4 %

Shares of ADP stock traded up $1.03 during trading on Friday, reaching $287.94. The company’s stock had a trading volume of 113,663 shares, compared to its average volume of 1,628,938. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $288.50. The stock’s 50-day moving average price is $273.05 and its 200 day moving average price is $255.02. The company has a market capitalization of $117.43 billion, a price-to-earnings ratio of 31.49, a P/E/G ratio of 3.13 and a beta of 0.79. 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 (NASDAQ:ADP – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 61.47%.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADP. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Barclays upped their price target 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $267.83.

Get Our Latest Stock Report on ADP

About Automatic Data Processing

(Free Report)

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.

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