Golden State Wealth Management LLC Acquires 925 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Golden State Wealth Management LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 212.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,361 shares of the business services provider’s stock after acquiring an additional 925 shares during the quarter. Golden State Wealth Management LLC’s holdings in Automatic Data Processing were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares during the period. Abound Wealth Management increased its holdings in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after purchasing an additional 43 shares during the period. Cyrus J. Lawrence LLC increased its holdings in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the period. Banque de Luxembourg S.A. bought a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.2%

Shares of NASDAQ:ADP opened at $303.45 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The firm has a fifty day moving average of $310.53 and a 200 day moving average of $303.06. The firm has a market capitalization of $123.18 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 1.02.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.03%. Automatic Data Processing’s payout ratio is 63.05%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Mizuho upped their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday, June 13th. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. UBS Group decreased their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Finally, Morgan Stanley upped their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $307.08.

Get Our Latest Research Report on Automatic Data Processing

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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