621 Shares in Automatic Data Processing (NASDAQ:ADP) Bought by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors bought a new position in shares of Automatic Data Processing (NASDAQ:ADP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 621 shares of the business services provider’s stock, valued at approximately $103,000.

Other institutional investors have also modified their holdings of the company. Ronna Sue Cohen grew its position in Automatic Data Processing by 15,564.1% during the first quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock valued at $3,468,000 after buying an additional 3,446,207 shares during the period. Thoroughbred Financial Services LLC grew its position in shares of Automatic Data Processing by 17,208.5% in the second quarter. Thoroughbred Financial Services LLC now owns 729,208 shares of the business services provider’s stock valued at $72,921,000 after purchasing an additional 724,995 shares during the period. Ellis Investment Partners LLC grew its position in shares of Automatic Data Processing by 15,521.9% in the first quarter. Ellis Investment Partners LLC now owns 708,766 shares of the business services provider’s stock valued at $708,000 after purchasing an additional 704,229 shares during the period. Geode Capital Management LLC grew its position in shares of Automatic Data Processing by 8.6% in the fourth quarter. Geode Capital Management LLC now owns 6,258,804 shares of the business services provider’s stock valued at $819,520,000 after purchasing an additional 496,843 shares during the period. Finally, Investec Asset Management LTD grew its position in shares of Automatic Data Processing by 217.5% in the second quarter. Investec Asset Management LTD now owns 648,507 shares of the business services provider’s stock valued at $40,267,000 after purchasing an additional 444,270 shares during the period. 80.23% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Barclays lifted their target price on shares of Automatic Data Processing from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $150.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 target price on the stock in a research report on Friday, June 21st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $174.10.



In related news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the transaction, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company’s stock.

ADP traded up $1.80 on Friday, reaching $166.87. 476,765 shares of the company’s stock were exchanged, compared to its average volume of 2,102,998. The stock has a market cap of $73.21 billion, a PE ratio of 30.62, a P/E/G ratio of 2.11 and a beta of 0.91. Automatic Data Processing has a twelve month low of $121.40 and a twelve month high of $172.00. The stock’s fifty day moving average price is $165.75 and its 200-day moving average price is $159.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.04.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 earnings per share. As a group, research analysts predict that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.89%. Automatic Data Processing’s payout ratio is presently 57.98%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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