Larson Financial Group LLC Has $399,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Larson Financial Group LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 35.4% in the 2nd quarter, Holdings Channel reports. The fund owned 1,670 shares of the business services provider’s stock after purchasing an additional 437 shares during the period. Larson Financial Group LLC’s holdings in Automatic Data Processing were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Gryphon Financial Partners LLC boosted its position in Automatic Data Processing by 105.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares during the last quarter. Wealthspire Advisors LLC lifted its holdings in shares of Automatic Data Processing by 55.5% during the 4th quarter. Wealthspire Advisors LLC now owns 7,366 shares of the business services provider’s stock valued at $1,716,000 after buying an additional 2,629 shares during the last quarter. Vestor Capital LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $44,000. Ethos Financial Group LLC grew its stake in shares of Automatic Data Processing by 18.2% in the 4th quarter. Ethos Financial Group LLC now owns 2,388 shares of the business services provider’s stock valued at $560,000 after buying an additional 368 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in Automatic Data Processing in the fourth quarter worth approximately $814,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of analyst reports. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. Bank of America upped their price target 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, JPMorgan Chase & Co. raised their price objective 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. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $265.36.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of the company’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 sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. The disclosure for this sale can be found here. Insiders have sold a total of 49,614 shares of company stock valued at $13,519,460 over the last quarter. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Trading Down 1.8 %

Shares of Automatic Data Processing stock opened at $270.17 on Friday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24. The company’s fifty day simple moving average is $255.77 and its 200-day simple moving average is $249.62. The company has a market cap of $110.58 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 3.00 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted 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. The company had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing Company Profile

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.