Moss Adams Wealth Advisors LLC Takes $217,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Moss Adams Wealth Advisors LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 781 shares of the business services provider’s stock, valued at approximately $217,000.

Other large investors have also bought and sold shares of the company. TD Asset Management Inc grew its stake in shares of 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 period. Assenagon Asset Management S.A. grew its stake in Automatic Data Processing by 70.7% in the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares during the period. SG Americas Securities LLC increased its holdings in shares of Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock valued at $12,888,000 after acquiring an additional 34,118 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new position in shares of Automatic Data Processing during the first quarter worth approximately $2,924,000. Finally, LVW Advisors LLC raised its position in shares of Automatic Data Processing by 23.8% during the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock worth $962,000 after purchasing an additional 740 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.1 %

ADP stock opened at $292.29 on Friday. The stock has a market cap of $119.63 billion, a P/E ratio of 32.62, 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 stock’s fifty day simple moving average is $276.64 and its two-hundred day simple moving average is $256.90. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping 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 company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the firm earned $1.89 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Transactions at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents 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 accessible through this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at approximately $2,816,946. This trade 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 worth $15,999,208 in the last quarter. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADP. Bank of America boosted their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Barclays raised their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus boosted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus 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.