Trifecta Capital Advisors LLC Has $43,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Trifecta Capital Advisors LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1,106.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 181 shares of the business services provider’s stock after purchasing an additional 166 shares during the quarter. Trifecta Capital Advisors LLC’s holdings in Automatic Data Processing were worth $43,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. BlueSpruce Investments LP bought a new position in Automatic Data Processing in the 1st quarter worth approximately $365,757,000. Norges Bank bought a new stake in Automatic Data Processing during the 4th quarter worth about $308,321,000. Capital Research Global Investors lifted its position in Automatic Data Processing by 22.5% during the 4th quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after purchasing an additional 649,791 shares during the period. Nordea Investment Management AB boosted its stake in shares of Automatic Data Processing by 27.7% in the 1st quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in shares of Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after buying an additional 552,096 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 in the company, valued at $9,899,862.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Barclays increased their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Stifel Nicolaus upped their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $265.36.

Automatic Data Processing Stock Up 1.3 %

Shares of Automatic Data Processing stock opened at $279.26 on Wednesday. The firm has a market cap of $113.88 billion, a PE ratio of 31.17, a P/E/G ratio of 2.93 and a beta of 0.79. The business’s 50 day simple moving average is $258.04 and its 200 day simple moving average is $249.99. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $279.58.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the company earned $1.89 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict 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 will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

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.