Bartlett & CO. Wealth Management LLC Has $27.08 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bartlett & CO. Wealth Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 97,374 shares of the business services provider’s stock after buying an additional 97 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Automatic Data Processing were worth $27,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. First Citizens Bank & Trust Co. grew its holdings in shares of Automatic Data Processing by 2.0% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 23,324 shares of the business services provider’s stock worth $6,454,000 after purchasing an additional 456 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Automatic Data Processing by 4.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 8,600 shares of the business services provider’s stock worth $2,380,000 after purchasing an additional 349 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Automatic Data Processing by 46.8% during the 3rd quarter. Blue Trust Inc. now owns 6,927 shares of the business services provider’s stock worth $1,917,000 after purchasing an additional 2,207 shares in the last quarter. Moss Adams Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $217,000. Finally, Precedent Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 20.6% during the 3rd quarter. Precedent Wealth Partners LLC now owns 4,973 shares of the business services provider’s stock worth $1,376,000 after purchasing an additional 851 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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 dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 over the last three months. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.1 %

NASDAQ ADP opened at $292.29 on Friday. The stock has a fifty day moving average of $276.64 and a 200-day moving average of $256.84. The stock has a market capitalization of $119.63 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on ADP shares. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus lifted their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two investment analysts have 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 data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Company 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.