Falcon Wealth Planning Purchases New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Falcon Wealth Planning acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 761 shares of the business services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Austin Private Wealth LLC boosted its holdings in shares of 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 worth $255,000 after purchasing an additional 39 shares during the period. Crestwood Advisors Group LLC lifted its position in Automatic Data Processing by 22.6% in the third quarter. Crestwood Advisors Group LLC now owns 4,170 shares of the business services provider’s stock worth $1,154,000 after buying an additional 770 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in Automatic Data Processing by 2.8% in the third quarter. Pittenger & Anderson Inc. now owns 47,189 shares of the business services provider’s stock worth $13,059,000 after buying an additional 1,277 shares during the last quarter. Amalgamated Bank boosted its stake in Automatic Data Processing by 0.3% during the third quarter. Amalgamated Bank now owns 88,011 shares of the business services provider’s stock worth $24,355,000 after buying an additional 267 shares during the period. Finally, Sentry Investment Management LLC bought a new position in Automatic Data Processing during the third quarter valued at $543,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Royal Bank of Canada raised their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.5 %

NASDAQ ADP traded up $1.31 on Tuesday, reaching $291.17. 107,179 shares of the stock traded hands, compared to its average volume of 1,628,114. Automatic Data Processing, Inc. has a 12 month low of $218.63 and a 12 month high of $294.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a fifty day moving average price of $281.94 and a 200-day moving average price of $260.46. The company has a market cap of $118.75 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 3.35 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating 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 firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Activity

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing 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.