Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,932 shares of the business services provider’s stock after buying an additional 922 shares during the period. Sequoia Financial Advisors LLC’s holdings in Automatic Data Processing were worth $2,473,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the second quarter valued at $27,000. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing in the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $36,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

NASDAQ ADP opened at $290.04 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18. The company has a market capitalization of $118.71 billion, a P/E ratio of 32.37, a PEG ratio of 3.13 and a beta of 0.79. The company’s 50 day simple moving average is $278.40 and its 200 day simple moving average is $257.89. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The company 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 company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ADP shares. 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 research report on Thursday, August 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Bank of America lifted their price objective 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. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $275.33.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. 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 sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

About Automatic Data Processing

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.