Wheatland Advisors Inc. Sells 100 Shares of Automatic Data Processing (NASDAQ:ADP)

Wheatland Advisors Inc. trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.8% during the second quarter, HoldingsChannel reports. The fund owned 11,900 shares of the business services provider’s stock after selling 100 shares during the quarter. Automatic Data Processing comprises 1.5% of Wheatland Advisors Inc.’s holdings, making the stock its 21st largest position. Wheatland Advisors Inc.’s holdings in Automatic Data Processing were worth $1,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Enterprise Financial Services Corp lifted its position in shares of Automatic Data Processing by 2.0% during the 1st quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock valued at $514,000 after acquiring an additional 64 shares during the period. Berman Capital Advisors LLC lifted its position in shares of Automatic Data Processing by 2.5% during the 1st quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock valued at $443,000 after acquiring an additional 67 shares during the period. Ellevest Inc. lifted its position in shares of Automatic Data Processing by 34.6% during the 1st quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 71 shares during the period. CX Institutional lifted its position in shares of Automatic Data Processing by 3.0% during the 2nd quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after acquiring an additional 73 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of Automatic Data Processing by 3.0% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 78 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

ADP traded down $4.73 during trading on Friday, hitting $164.80. 1,185,829 shares of the company’s stock were exchanged, compared to its average volume of 2,078,795. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.37. The business’s 50 day moving average is $166.31 and its two-hundred day moving average is $160.65. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $172.00. The stock has a market cap of $73.57 billion, a P/E ratio of 30.24, a PEG ratio of 2.12 and a beta of 0.91.



Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a yield of 1.92%. Automatic Data Processing’s payout ratio is 57.98%.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the company’s stock in a transaction on 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 owns 14,896 shares in the company, valued at $2,413,747.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted 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, August 15th. BidaskClub upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Barclays boosted 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. Finally, Robert W. Baird upped their price objective on shares of Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $174.00.

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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