BerganKDV Wealth Management LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

BerganKDV Wealth Management LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 19,952 shares of the business services provider’s stock after purchasing an additional 1,314 shares during the period. BerganKDV Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,963,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ADP. Paragon Wealth Strategies LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $26,000. Lake Point Wealth Management bought a new position in shares of Automatic Data Processing during the second quarter worth about $27,000. Disciplined Investments LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $31,000. Annapolis Financial Services LLC lifted its position in shares of Automatic Data Processing by 232.0% during the second quarter. Annapolis Financial Services LLC now owns 166 shares of the business services provider’s stock worth $33,000 after purchasing an additional 116 shares during the last quarter. Finally, Newton One Investments LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $42,000. 78.39% of the stock is owned by institutional investors.

In related news, VP Deborah L. Dyson sold 2,428 shares of the firm’s stock in a transaction that occurred on Friday, July 9th. The shares were sold at an average price of $202.00, for a total transaction of $490,456.00. Following the completion of the sale, the vice president now directly owns 26,614 shares in the company, valued at $5,376,028. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Alexander Quevedo sold 950 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $209.25, for a total transaction of $198,787.50. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Shares of NASDAQ:ADP traded up $0.84 during trading hours on Wednesday, hitting $200.58. The stock had a trading volume of 27,911 shares, compared to its average volume of 1,745,339. The stock’s fifty day simple moving average is $207.88 and its 200 day simple moving average is $197.53. Automatic Data Processing, Inc. has a 1-year low of $127.31 and a 1-year high of $217.15. The firm has a market capitalization of $84.86 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.07.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.14 by $0.06. Automatic Data Processing had a net margin of 17.32% and a return on equity of 44.73%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter last year, the business earned $1.14 earnings per share. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 6.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 1.85%. Automatic Data Processing’s dividend payout ratio is presently 61.79%.

ADP has been the topic of several research analyst reports. Mizuho increased their price target on shares of Automatic Data Processing from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Citigroup cut shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and increased their price target for the stock from $212.00 to $220.00 in a research report on Tuesday, August 10th. Barclays raised their target price on shares of Automatic Data Processing from $212.00 to $227.00 and gave the stock an “overweight” rating in a report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Automatic Data Processing from $192.00 to $210.00 and gave the stock a “hold” rating in a report on Thursday, July 29th. Finally, Credit Suisse Group cut shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 target price on the stock. in a report on Monday, August 16th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $196.79.

Automatic Data Processing Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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