Petredis Investment Advisors LLC Acquires 37 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Petredis Investment Advisors LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,485 shares of the business services provider’s stock after acquiring an additional 37 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,902,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ADP. TD Asset Management Inc increased its stake in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the last quarter. SG Americas Securities LLC increased its stake in Automatic Data Processing by 195.1% in the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after buying an additional 34,118 shares during the last quarter. Cornerstone Wealth Group LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $2,924,000. Finally, LVW Advisors LLC increased its stake in Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after buying an additional 740 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 in the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.3 %

Automatic Data Processing stock opened at $290.04 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The firm has a market capitalization of $118.71 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 3.13 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a 50 day simple moving average of $274.81 and a 200 day simple moving average of $256.02.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the business earned $1.89 EPS. Automatic Data Processing’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Wall Street Analyst Weigh In

Several research firms have commented on ADP. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $267.83.

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.