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

Centric Wealth Management increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,288 shares of the business services provider’s stock after acquiring an additional 589 shares during the quarter. Centric Wealth Management’s holdings in Automatic Data Processing were worth $2,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Everhart Financial Group Inc. boosted its stake in Automatic Data Processing by 20.1% in the 3rd quarter. Everhart Financial Group Inc. now owns 1,584 shares of the business services provider’s stock worth $381,000 after purchasing an additional 265 shares during the period. Lindbrook Capital LLC boosted its stake in Automatic Data Processing by 7.5% in the 3rd quarter. Lindbrook Capital LLC now owns 2,002 shares of the business services provider’s stock worth $482,000 after purchasing an additional 140 shares during the period. Verdence Capital Advisors LLC boosted its stake in Automatic Data Processing by 7.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,415 shares of the business services provider’s stock worth $2,024,000 after purchasing an additional 585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Automatic Data Processing by 9.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 152,241 shares of the business services provider’s stock worth $36,626,000 after purchasing an additional 13,594 shares during the period. Finally, Pennsylvania Capital Management Inc. ADV boosted its stake in Automatic Data Processing by 31.8% in the 3rd quarter. Pennsylvania Capital Management Inc. ADV now owns 2,677 shares of the business services provider’s stock worth $644,000 after purchasing an additional 646 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock traded down $1.90 during trading on Wednesday, hitting $243.22. 600,831 shares of the stock traded hands, compared to its average volume of 1,768,037. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The stock has a market cap of $99.55 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.30 and a beta of 0.78. The company has a 50 day simple moving average of $245.29 and a 200 day simple moving average of $238.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the firm posted $2.52 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. JPMorgan Chase & Co. cut their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. TD Cowen cut their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $255.42.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold 2,966 shares of company stock valued at $749,524 in the last ninety days. 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.