First Nebraska Trust Co bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,503 shares of the business services provider’s stock, valued at approximately $561,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Imprint Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $25,000. Cornerstone Financial Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $26,000. Bard Associates Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $28,000. Whipplewood Advisors LLC increased its stake in Automatic Data Processing by 2,740.0% in the first quarter. Whipplewood Advisors LLC now owns 142 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 137 shares in the last quarter. Finally, Prosperity Bancshares Inc acquired a new stake in Automatic Data Processing in the fourth quarter worth $33,000. 80.03% of the stock is currently owned by institutional investors.
Automatic Data Processing Price Performance
Shares of NASDAQ ADP opened at $280.81 on Friday. The firm has a market cap of $111.55 billion, a PE ratio of 25.67 and a beta of 0.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.82. Automatic Data Processing, Inc. has a 1-year low of $188.16 and a 1-year high of $308.89. The company has a fifty day moving average price of $249.66 and a 200 day moving average price of $226.31.
Automatic Data Processing Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 11th will be issued a dividend of $1.70 per share. The ex-dividend date is Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.4%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.16%.
Insider Activity
In related news, VP David Kwon sold 2,414 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $265.62, for a total value of $641,206.68. Following the sale, the vice president owned 9,660 shares of the company’s stock, valued at approximately $2,565,889.20. This trade represents a 19.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.20% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on ADP. Argus decreased their price target on shares of Automatic Data Processing from $300.00 to $240.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Cantor Fitzgerald lifted their price objective on Automatic Data Processing from $295.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. TD Cowen boosted their price objective on Automatic Data Processing from $216.00 to $223.00 and gave the company a “hold” rating in a research report on Monday, July 6th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 21st. Finally, Guggenheim increased their target price on Automatic Data Processing from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $273.50.
Check Out Our Latest Report on Automatic Data Processing
Automatic Data Processing Company Profile
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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