Automatic Data Processing, Inc. $ADP Stock Acquired by Ritholtz Wealth Management

Ritholtz Wealth Management lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,323 shares of the business services provider’s stock after purchasing an additional 3,190 shares during the period. Ritholtz Wealth Management’s holdings in Automatic Data Processing were worth $4,212,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Polaris Financial Partners purchased a new position in Automatic Data Processing in the 3rd quarter valued at about $25,000. Next Level Wealth Planning LLC acquired a new stake in Automatic Data Processing in the 3rd quarter worth about $26,000. Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $39,000. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $34,000. Finally, Cornerstone Financial Management LLC increased its stake in Automatic Data Processing by 59.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 156 shares of the business services provider’s stock worth $35,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 631 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $282.87, for a total transaction of $178,490.97. Following the transaction, the vice president owned 18,824 shares of the company’s stock, valued at approximately $5,324,744.88. The trade was a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 852 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $310.01, for a total value of $264,128.52. Following the transaction, the vice president directly owned 14,865 shares in the company, valued at $4,608,298.65. This trade represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 50,207 shares of company stock valued at $14,522,300. 0.15% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Up 0.5%

Shares of NASDAQ ADP opened at $307.92 on Friday. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $311.89. The stock has a market cap of $121.55 billion, a PE ratio of 27.30, a P/E/G ratio of 2.75 and a beta of 0.77. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $280.85 and a 200 day moving average of $242.86.

Automatic Data Processing (NASDAQ:ADP) last released 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 the consensus estimate of $5.48 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. Automatic Data Processing’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 12.38 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 11th will be given a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.70. The ex-dividend date is Friday, December 11th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 60.28%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Morgan Stanley increased their target price on Automatic Data Processing from $286.00 to $288.00 and gave the company an “equal weight” rating in a report on Thursday, October 29th. Guggenheim reaffirmed a “buy” rating and issued a $340.00 price target on shares of Automatic Data Processing in a research note on Thursday, October 29th. Citigroup boosted their price target on Automatic Data Processing from $287.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Stifel Nicolaus boosted their price target on Automatic Data Processing from $285.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Finally, Cantor Fitzgerald increased their price objective on Automatic Data Processing from $310.00 to $336.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $285.00.

Automatic Data Processing Profile

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.