Avantax Planning Partners Inc. Grows Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Avantax Planning Partners Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 144.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,229 shares of the business services provider’s stock after buying an additional 6,048 shares during the period. Avantax Planning Partners Inc.’s holdings in Automatic Data Processing were worth $2,328,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Beaumont Financial Partners LLC raised its position in shares of Automatic Data Processing by 42.2% during the 1st quarter. Beaumont Financial Partners LLC now owns 5,091 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 1,510 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Automatic Data Processing by 5.6% in the 1st quarter. Teacher Retirement System of Texas now owns 174,306 shares of the business services provider’s stock valued at $39,662,000 after buying an additional 9,258 shares during the period. Capital Advisors Ltd. LLC raised its stake in Automatic Data Processing by 32.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,538 shares of the business services provider’s stock worth $350,000 after acquiring an additional 376 shares in the last quarter. Wealthsource Partners LLC increased its stake in Automatic Data Processing by 3.3% in the first quarter. Wealthsource Partners LLC now owns 2,906 shares of the business services provider’s stock valued at $661,000 after purchasing an additional 93 shares during the period. Finally, ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Automatic Data Processing by 16.1% in the first quarter. ICICI Prudential Asset Management Co Ltd now owns 1,207 shares of the business services provider’s stock valued at $275,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $214.07, for a total value of $66,789.84. Following the completion of the transaction, the vice president now directly owns 1,663 shares in the company, valued at $355,998.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Automatic Data Processing news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $210.64, for a total value of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares in the company, valued at $892,692.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher D’ambrosio sold 312 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $214.07, for a total value of $66,789.84. Following the sale, the vice president now owns 1,663 shares in the company, valued at $355,998.41. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded up $3.21 during trading hours on Friday, reaching $247.20. The company’s stock had a trading volume of 1,168,798 shares, compared to its average volume of 1,483,117. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.01 and a current ratio of 0.99. The firm has a market cap of $102.72 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.53 and a beta of 0.84. The company’s 50-day moving average is $218.44 and its 200-day moving average is $216.21. Automatic Data Processing, Inc. has a 52 week low of $192.26 and a 52 week high of $248.96.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.03. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.20 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 8.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.16 annualized dividend and a yield of 1.68%. Automatic Data Processing’s dividend payout ratio is presently 59.34%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADP. Cowen boosted their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Citigroup increased their price objective on shares of Automatic Data Processing from $212.00 to $230.00 in a report on Monday, May 2nd. Mizuho raised their target price on shares of Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a research note on Monday, August 1st. Cowen raised their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $232.20.

Automatic Data Processing Company Profile

(Get Rating)

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.

See Also

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.