Falcon Wealth Planning Makes New $211,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Falcon Wealth Planning acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 761 shares of the business services provider’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing during the 2nd quarter valued at about $27,000. Keener Financial Planning LLC boosted its position in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the 1st quarter worth approximately $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $1.31 during midday trading on Tuesday, reaching $291.17. 107,179 shares of the company’s stock traded hands, compared to its average volume of 1,628,114. The company has a market cap of $118.75 billion, a P/E ratio of 30.93, a PEG ratio of 3.35 and a beta of 0.79. The company has a fifty day simple moving average of $281.94 and a two-hundred day simple moving average of $260.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $218.63 and a 1 year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. Equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 annualized dividend and a yield of 1.92%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Analysts Set New Price Targets

Several research firms have recently commented on ADP. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Stifel Nicolaus upped their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. 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 can be accessed through the SEC website. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, 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. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last quarter. 0.21% of the stock is currently owned by insiders.

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.