Petredis Investment Advisors LLC Buys 37 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Petredis Investment Advisors LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,485 shares of the business services provider’s stock after purchasing an additional 37 shares during the period. Petredis Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,902,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Moors & Cabot Inc. grew its stake in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after acquiring an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. boosted its stake in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after purchasing an additional 40 shares during the period. Confluence Wealth Services Inc. boosted its stake in shares of Automatic Data Processing by 5.0% during the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after purchasing an additional 41 shares during the period. Cypress Wealth Services LLC boosted its stake in shares of Automatic Data Processing by 4.8% during the 3rd quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock worth $248,000 after purchasing an additional 41 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its stake in shares of Automatic Data Processing by 1.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after purchasing an additional 43 shares during the period. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ADP. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Stifel Nicolaus boosted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Trading Down 0.3 %

NASDAQ ADP opened at $290.04 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market cap of $118.71 billion, a PE ratio of 32.37, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a 50 day moving average price of $274.81 and a 200 day moving average price of $256.02. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.89 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,817 shares of company stock valued at $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing 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.