Litman Gregory Wealth Management LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Litman Gregory Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 279.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,332 shares of the business services provider’s stock after acquiring an additional 3,190 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,199,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Syntegra Private Wealth Group LLC purchased a new stake in shares of Automatic Data Processing during the third quarter worth about $206,000. Greenleaf Trust boosted its position in Automatic Data Processing by 11.5% in the third quarter. Greenleaf Trust now owns 36,168 shares of the business services provider’s stock valued at $10,009,000 after buying an additional 3,729 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Automatic Data Processing by 134.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 8,388 shares of the business services provider’s stock valued at $2,322,000 after buying an additional 4,809 shares during the last quarter. Meadow Creek Wealth Advisors LLC boosted its position in Automatic Data Processing by 6.0% in the third quarter. Meadow Creek Wealth Advisors LLC now owns 2,095 shares of the business services provider’s stock valued at $580,000 after buying an additional 119 shares during the last quarter. Finally, Elevated Capital Advisors LLC purchased a new stake in Automatic Data Processing in the third quarter valued at approximately $208,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.82 during trading hours on Wednesday, hitting $290.52. 122,755 shares of the company’s stock were exchanged, compared to its average volume of 1,622,783. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market cap of $118.91 billion, a P/E ratio of 32.50, a P/E/G ratio of 3.13 and a beta of 0.79. The firm has a 50 day moving average of $277.86 and a two-hundred day moving average of $257.66. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced 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. This represents a $5.60 annualized dividend and a dividend 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

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. UBS Group upped 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Finally, Citigroup boosted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $275.33.

Insider Activity at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on 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 completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

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.