Automatic Data Processing, Inc. $ADP Shares Acquired by True Freedom Investing LLC

True Freedom Investing LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 23,260 shares of the business services provider’s stock after buying an additional 2,187 shares during the period. True Freedom Investing LLC’s holdings in Automatic Data Processing were worth $6,003,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $8,097,229,000. Bank of America Corp DE bought a new position in Automatic Data Processing during the 2nd quarter worth $1,231,175,000. Deutsche Bank AG bought a new position in Automatic Data Processing during the 2nd quarter worth $994,937,000. Bank of New York Mellon Corp bought a new position in Automatic Data Processing during the 2nd quarter worth $725,513,000. Finally, Legal & General Group Plc acquired a new stake in Automatic Data Processing in the second quarter worth $562,425,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $293.84 on Monday. The business has a fifty day simple moving average of $277.25 and a 200-day simple moving average of $240.83. The company has a market cap of $116.43 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 2.64 and a beta of 0.83. Automatic Data Processing, Inc. has a 12 month low of $188.16 and a 12 month high of $309.40. The company has a quick ratio of 1.05, a current ratio of 1.03 and a debt-to-equity ratio of 0.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period in the prior year, the firm earned $2.49 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 12.36 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 11th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a yield of 2.3%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADP shares. Royal Bank Of Canada restated a “sector perform” rating and set a $290.00 price target on shares of Automatic Data Processing in a research report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Automatic Data Processing from $310.00 to $336.00 and gave the company an “overweight” rating in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Automatic Data Processing from $248.00 to $283.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. BMO Capital Markets upped their target price on shares of Automatic Data Processing from $248.00 to $305.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Finally, Guggenheim restated a “buy” rating and issued a $340.00 price target on shares of Automatic Data Processing in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $285.00.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total value of $178,490.97. Following the transaction, the vice president directly owned 18,824 shares of the company’s stock, valued at $5,324,744.88. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Brian Michaud sold 120 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $279.70, for a total value of $33,564.00. Following the sale, the vice president directly owned 18,442 shares of the company’s stock, valued at $5,158,227.40. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 31,359 shares of company stock worth $8,809,422. 0.15% of the stock is owned by company insiders.

Automatic Data Processing Profile

Automatic Data Processing, Inc (NASDAQ: ADP) is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.