Aprio Wealth Management LLC Buys New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Aprio Wealth Management LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, Holdings Channel reports. The fund bought 861 shares of the business services provider’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Moors & Cabot Inc. boosted its position in shares of Automatic Data Processing by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 39 shares during the period. Schmidt P J Investment Management Inc. boosted its position in Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares during the period. Confluence Wealth Services Inc. boosted its position in Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after acquiring an additional 41 shares during the period. Legacy Financial Advisors Inc. boosted its position in Automatic Data Processing by 1.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after acquiring an additional 43 shares during the period. Finally, Patron Partners LLC boosted its position in Automatic Data Processing by 1.6% during the 1st quarter. Patron Partners LLC now owns 2,733 shares of the business services provider’s stock worth $683,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.2 %

Shares of ADP stock opened at $285.42 on Wednesday. The stock’s 50 day simple moving average is $271.48 and its 200 day simple moving average is $254.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $286.30. The company has a market capitalization of $116.82 billion, a price-to-earnings ratio of 31.85, a PEG ratio of 3.02 and a beta of 0.79.

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 for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business earned $1.89 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America raised 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. Jefferies Financial Group raised their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $267.83.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 stock was sold at an average price of $270.96, for a total value 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.