BerganKDV Wealth Management LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

BerganKDV Wealth Management LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,530 shares of the business services provider’s stock after purchasing an additional 1,465 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,899,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Sandy Cove Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth about $28,000. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth about $28,000. Tortoise Investment Management LLC boosted its stake in shares of Automatic Data Processing by 70.8% during the 4th quarter. Tortoise Investment Management LLC now owns 123 shares of the business services provider’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. Delos Wealth Advisors LLC boosted its stake in shares of Automatic Data Processing by 588.9% during the 4th quarter. Delos Wealth Advisors LLC now owns 124 shares of the business services provider’s stock worth $31,000 after purchasing an additional 106 shares during the last quarter. Finally, Landmark Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 78.84% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 312 shares of Automatic Data Processing stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $214.07, for a total transaction of $66,789.84. Following the sale, the vice president now directly owns 1,663 shares in the company, valued at $355,998.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Augusto J. Blanchard sold 567 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 4,238 shares in the company, valued at approximately $892,692.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now owns 1,663 shares of the company’s stock, valued at $355,998.41. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. Mizuho raised their price target on shares of Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Cowen increased their price objective on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Wolfe Research cut their price objective on shares of Automatic Data Processing from $235.00 to $210.00 in a report on Wednesday, July 20th. Morgan Stanley increased their price objective on shares of Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Automatic Data Processing from $203.00 to $234.00 in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $232.20.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $3.21 during mid-day trading 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 firm has a market cap of $102.72 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.53 and a beta of 0.84. The business has a 50 day moving average price of $218.44 and a 200-day moving average price of $216.21. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.93. Automatic Data Processing, Inc. has a twelve month low of $192.26 and a twelve month high of $248.96.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Automatic Data Processing Profile

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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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