Thurston Springer Miller Herd & Titak Inc. Has $2.42 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

by · The Cerbat Gem

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 1.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 8,726 shares of the business services provider’s stock after acquiring an additional 104 shares during the period. Automatic Data Processing accounts for 0.7% of Thurston Springer Miller Herd & Titak Inc.’s portfolio, making the stock its 24th largest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Automatic Data Processing were worth $2,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Orca Investment Management LLC increased its holdings in Automatic Data Processing by 13.9% in the third quarter. Orca Investment Management LLC now owns 3,317 shares of the business services provider’s stock valued at $918,000 after purchasing an additional 406 shares during the last quarter. Smith Chas P & Associates PA Cpas acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $22,286,000. Sawyer & Company Inc grew its position in shares of Automatic Data Processing by 0.7% during the 3rd quarter. Sawyer & Company Inc now owns 21,388 shares of the business services provider’s stock worth $5,919,000 after buying an additional 151 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of Automatic Data Processing by 3.7% in the 3rd quarter. Koshinski Asset Management Inc. now owns 6,756 shares of the business services provider’s stock valued at $1,870,000 after acquiring an additional 244 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Automatic Data Processing by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock valued at $1,278,000 after acquiring an additional 861 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.5 %

NASDAQ:ADP opened at $288.36 on Monday. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $288.50. The firm has a market capitalization of $118.02 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $273.55 and its two-hundred day moving average price is $255.45.

Automatic Data Processing (NASDAQ:ADP – Get Free Report) last issued its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for 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 firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated 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 completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 3,179 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 $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ADP. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Bank of America upped 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. Barclays raised their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price 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. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $267.83.

Get Our Latest Stock Report on ADP

Automatic Data Processing Profile

(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.

See Also

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