Thrive Wealth Management LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Thrive Wealth Management LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,181 shares of the business services provider’s stock after acquiring an additional 64 shares during the period. Thrive Wealth Management LLC’s holdings in Automatic Data Processing were worth $260,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ADP. Ten Capital Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 110.7% during the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock worth $26,000 after buying an additional 62 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $28,000. Coppell Advisory Solutions Corp. acquired a new position in Automatic Data Processing during the fourth quarter worth $33,000. Strategic Investment Solutions Inc. IL purchased a new stake in Automatic Data Processing during the first quarter worth $31,000. Finally, Arlington Partners LLC acquired a new stake in Automatic Data Processing in the first quarter valued at $36,000. Hedge funds and other institutional investors own 79.37% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the sale, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at $18,051,533.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Bonarti sold 7,049 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $254.75, for a total transaction of $1,795,732.75. Following the completion of the transaction, the vice president now owns 67,044 shares in the company, valued at approximately $17,079,459. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 17,326 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $255.03, for a total value of $4,418,649.78. Following the completion of the sale, the chief executive officer now directly owns 70,782 shares in the company, valued at $18,051,533.46. The disclosure for this sale can be found here. Insiders have sold 170,089 shares of company stock worth $42,719,064 over the last ninety days. 0.33% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ADP. UBS Group initiated coverage on shares of Automatic Data Processing in a research note on Friday, June 2nd. They issued a “neutral” rating and a $230.00 price objective on the stock. Jefferies Financial Group raised their price objective on Automatic Data Processing from $240.00 to $260.00 in a report on Wednesday, July 26th. Royal Bank of Canada initiated coverage on Automatic Data Processing in a research report on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 target price on the stock. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Finally, Morgan Stanley increased their target price on Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $249.57.

Automatic Data Processing Trading Up 0.8 %

NASDAQ ADP opened at $247.28 on Tuesday. The company has a market capitalization of $101.88 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $274.92. The company’s fifty day moving average price is $246.38 and its two-hundred day moving average price is $226.89.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.83 by $0.06. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.39 billion. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.50 earnings per share. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Thursday, September 7th. Automatic Data Processing’s dividend payout ratio is currently 60.98%.

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.