Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by MGO One Seven LLC

MGO One Seven LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,572 shares of the business services provider’s stock after purchasing an additional 584 shares during the period. MGO One Seven LLC’s holdings in Automatic Data Processing were worth $1,569,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. increased its holdings in Automatic Data Processing by 1.9% during the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 81,015 shares of the business services provider’s stock worth $19,337,000 after purchasing an additional 1,473 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in Automatic Data Processing by 22.0% in the second quarter. Gryphon Financial Partners LLC now owns 2,593 shares of the business services provider’s stock valued at $619,000 after acquiring an additional 468 shares in the last quarter. Van Hulzen Asset Management LLC raised its holdings in Automatic Data Processing by 10.3% in the second quarter. Van Hulzen Asset Management LLC now owns 89,907 shares of the business services provider’s stock valued at $21,460,000 after acquiring an additional 8,402 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Automatic Data Processing by 9.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 73,890 shares of the business services provider’s stock valued at $17,637,000 after acquiring an additional 6,637 shares during the last quarter. Finally, Vision Capital Management Inc. acquired a new position in Automatic Data Processing during the 2nd quarter worth $395,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. Bank of America upped 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 note on Thursday, August 1st. Barclays increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday. Finally, 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 research note on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $265.36.

Automatic Data Processing Trading Up 0.3 %

Shares of NASDAQ:ADP opened at $278.40 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $279.58. 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 company has a market cap of $113.95 billion, a PE ratio of 31.07, a P/E/G ratio of 2.93 and a beta of 0.79. The company’s 50-day moving average price is $259.68 and its 200 day moving average price is $250.38.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 return on equity of 89.20% and a net margin of 19.54%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared 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 2.01%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

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.