Moors & Cabot Inc. Purchases 94 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Moors & Cabot Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 1.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,130 shares of the business services provider’s stock after buying an additional 94 shares during the period. Moors & Cabot Inc.’s holdings in Automatic Data Processing were worth $1,622,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the first quarter valued at approximately $28,000. Delos Wealth Advisors LLC lifted its position 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 valued at $31,000 after acquiring an additional 106 shares during the period. Landmark Wealth Management LLC bought a new position in Automatic Data Processing during the first quarter worth $31,000. Core Alternative Capital grew its holdings in Automatic Data Processing by 761.1% in the first quarter. Core Alternative Capital now owns 155 shares of the business services provider’s stock worth $35,000 after purchasing an additional 137 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 79.06% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Donald Weinstein sold 10,150 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the completion of the sale, the vice president now owns 41,035 shares in the company, valued at $10,258,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Augusto J. Blanchard sold 567 shares of Automatic Data Processing stock in a transaction dated 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 owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Donald Weinstein sold 10,150 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the sale, the vice president now directly owns 41,035 shares in the company, valued at $10,258,750. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $241.94 on Friday. Automatic Data Processing, Inc. has a one year low of $192.26 and a one year high of $261.59. The company has a market cap of $100.53 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.47 and a beta of 0.82. The firm has a 50-day moving average of $236.53 and a 200-day moving average of $223.52. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its earnings results on Wednesday, July 27th. The business services provider reported $1.50 EPS for the quarter, topping the consensus estimate of $1.48 by $0.02. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter last year, the firm earned $1.20 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 8.05 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 9th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.16 dividend on an annualized basis and a yield of 1.72%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.34%.

Analysts Set New Price Targets

Several brokerages have recently commented on ADP. Mizuho raised their target price on 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 Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. Morgan Stanley upped their target price on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Cowen lifted their price target on shares of Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Finally, Wolfe Research decreased their price target on shares of Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $235.92.

About Automatic Data Processing

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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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