Global Retirement Partners LLC Has $2.17 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Global Retirement Partners LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,855 shares of the business services provider’s stock after selling 552 shares during the quarter. Global Retirement Partners LLC’s holdings in Automatic Data Processing were worth $2,174,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the second quarter valued at $27,000. Keener Financial Planning LLC increased its holdings in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC raised its position in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ADP shares. Bank of America increased their target price 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 target price 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. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $267.83.

Insider Transactions at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.1 %

Automatic Data Processing stock opened at $292.29 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $119.63 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm’s 50-day simple moving average is $276.64 and its 200 day simple moving average is $256.84. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the business posted $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

About Automatic Data Processing

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.