Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 43.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169 shares of the business services provider’s stock after buying an additional 51 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Automatic Data Processing were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC grew 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 last quarter. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $33,000. Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter worth $36,000. Finally, New Millennium Group LLC purchased a new stake in shares of Automatic Data Processing in the 2nd quarter worth about $40,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $284.62 on Friday. The business’s 50-day moving average price is $270.29 and its 200 day moving average price is $253.65. 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, Inc. has a twelve month low of $205.53 and a twelve month high of $285.67. The company has a market capitalization of $116.49 billion, a PE ratio of 31.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share 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 business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm posted $1.89 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share 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 dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on 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 transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 in the last ninety days. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADP shares. Barclays lifted their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $267.83.

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.