Brookstone Capital Management Purchases 502 Shares of Automatic Data Processing (NASDAQ:ADP)

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Brookstone Capital Management boosted its stake in Automatic Data Processing (NASDAQ:ADP) by 18.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,188 shares of the business services provider’s stock after acquiring an additional 502 shares during the period. Brookstone Capital Management’s holdings in Automatic Data Processing were worth $515,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ADP. CX Institutional raised its holdings in Automatic Data Processing by 3.0% in the 2nd quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock worth $409,000 after purchasing an additional 73 shares in the last quarter. Berman Capital Advisors LLC lifted its position in shares of Automatic Data Processing by 2.6% during the second quarter. Berman Capital Advisors LLC now owns 2,853 shares of the business services provider’s stock worth $471,000 after purchasing an additional 73 shares during the last quarter. We Are One Seven LLC lifted its position in shares of Automatic Data Processing by 2.9% during the third quarter. We Are One Seven LLC now owns 2,592 shares of the business services provider’s stock worth $418,000 after purchasing an additional 74 shares during the last quarter. Northern Oak Wealth Management Inc. lifted its position in shares of Automatic Data Processing by 7.2% during the second quarter. Northern Oak Wealth Management Inc. now owns 1,179 shares of the business services provider’s stock worth $195,000 after purchasing an additional 79 shares during the last quarter. Finally, Aft Forsyth & Company Inc. lifted its position in shares of Automatic Data Processing by 2.7% during the second quarter. Aft Forsyth & Company Inc. now owns 3,010 shares of the business services provider’s stock worth $498,000 after purchasing an additional 80 shares during the last quarter. 80.40% of the stock is currently owned by institutional investors and hedge funds.

ADP stock opened at $163.54 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50-day moving average price of $162.83 and a 200 day moving average price of $163.73. The company has a market capitalization of $71.05 billion, a P/E ratio of 30.06, a PEG ratio of 2.04 and a beta of 0.90. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, topping the Zacks’ 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 business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company posted $0.99 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. On average, analysts anticipate that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.79 dividend. The ex-dividend date was Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

Several research firms have recently weighed in on ADP. Jefferies Financial Group lifted their target price on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their target price on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. ValuEngine downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on Automatic Data Processing from $167.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $175.67.

In other news, VP Brock Albinson sold 6,683 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $167.87, for a total transaction of $1,121,875.21. Following the completion of the transaction, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Carlos A. Rodriguez sold 49,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the transaction, the chief executive officer now directly owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

About Automatic Data Processing

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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