Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by BerganKDV Wealth Management LLC

BerganKDV Wealth Management LLC lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 7.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,530 shares of the business services provider’s stock after purchasing an additional 1,465 shares during the period. BerganKDV Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,899,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Kovitz Investment Group Partners LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at about $6,772,000. Crewe Advisors LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth about $28,000. Capital Investment Advisory Services LLC grew its holdings in shares of Automatic Data Processing by 7.1% during the first quarter. Capital Investment Advisory Services LLC now owns 2,701 shares of the business services provider’s stock worth $615,000 after buying an additional 178 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of Automatic Data Processing by 14.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 19,931 shares of the business services provider’s stock worth $4,916,000 after buying an additional 2,486 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Automatic Data Processing by 4.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 5,085 shares of the business services provider’s stock worth $1,251,000 after buying an additional 239 shares in the last quarter. Institutional investors and hedge funds own 78.84% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total value of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total transaction of $119,432.88. Following the completion of the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at $892,692.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D’ambrosio sold 312 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the transaction, the vice president now owns 1,663 shares in the company, valued at approximately $355,998.41. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of a number of recent research reports. Barclays lifted their price target on shares of Automatic Data Processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, May 2nd. Morgan Stanley lifted their price target on shares of Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Cowen lifted their price target on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Wolfe Research lowered their target price on shares of Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $232.20.

Automatic Data Processing Stock Up 1.3 %

Shares of NASDAQ ADP traded up $3.21 during trading on Friday, reaching $247.20. 1,168,798 shares of the stock were exchanged, compared to its average volume of 1,483,117. The business’s 50-day moving average price is $218.44 and its 200 day moving average price is $216.21. Automatic Data Processing, Inc. has a twelve month low of $192.26 and a twelve month high of $248.96. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $102.72 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings results on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 8.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.16 annualized dividend and a yield of 1.68%. Automatic Data Processing’s payout ratio is 59.34%.

Automatic Data Processing Profile

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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.

See Also

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

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