736 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Second Half Financial Partners LLC

Second Half Financial Partners LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 736 shares of the business services provider’s stock, valued at approximately $204,000.

Other large investors also recently bought and sold shares of the company. Tower Wealth Partners Inc. increased its stake in shares of Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the last quarter. Petredis Investment Advisors LLC increased its position in Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the period. Moors & Cabot Inc. raised its stake in Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 39 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its holdings in Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ADP shares. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Finally, TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $289.91.

Insider Activity at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 23.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last ninety days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $297.00 on Tuesday. The stock has a market capitalization of $121.02 billion, a price-to-earnings ratio of 31.79, a P/E/G ratio of 3.46 and a beta of 0.79. The firm’s 50-day moving average price is $287.68 and its two-hundred day moving average price is $264.53. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the business earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

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.