550 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Purchased by FSA Wealth Management LLC

FSA Wealth Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 550 shares of the business services provider’s stock, valued at approximately $152,000.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at $27,000. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $35,000. MFA Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the second quarter worth about $40,000. Finally, New Millennium Group LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at about $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $306.93 on Friday. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $292.45 and its 200 day simple moving average is $268.15. The firm has a market capitalization of $125.06 billion, a PE ratio of 32.76, a P/E/G ratio of 3.57 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.08 earnings per share. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is currently 59.77%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was 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 directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. This represents a 7.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,504 shares of company stock worth $20,298,056. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

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.