CreativeOne Wealth LLC Has $1.33 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

CreativeOne Wealth LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,871 shares of the business services provider’s stock after purchasing an additional 99 shares during the period. CreativeOne Wealth LLC’s holdings in Automatic Data Processing were worth $1,328,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Calamos Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $270,000. First Business Financial Services Inc. acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $211,000. Redwood Investment Management LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $230,000. CAPROCK Group Inc. lifted its position in shares of Automatic Data Processing by 2.4% during the third quarter. CAPROCK Group Inc. now owns 5,518 shares of the business services provider’s stock worth $1,254,000 after purchasing an additional 128 shares in the last quarter. Finally, Mather Group LLC. lifted its position in shares of Automatic Data Processing by 4.2% during the second quarter. Mather Group LLC. now owns 63,019 shares of the business services provider’s stock worth $13,236,000 after purchasing an additional 2,525 shares in the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.0 %

ADP opened at $213.59 on Wednesday. The firm’s fifty day moving average is $228.31 and its two-hundred day moving average is $237.83. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $88.50 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81. Automatic Data Processing, Inc. has a twelve month low of $196.61 and a twelve month high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last posted its earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. The company had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.39 billion. Automatic Data Processing had a net margin of 18.24% and a return on equity of 96.94%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $1.65 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 8.12 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be issued a $1.25 dividend. The ex-dividend date is Thursday, March 9th. This represents a $5.00 annualized dividend and a yield of 2.34%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.40%.

Insiders Place Their Bets

In other news, VP Donald Weinstein sold 5,075 shares of the stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $245.00, for a total transaction of $1,243,375.00. Following the completion of the sale, the vice president now owns 32,950 shares of the company’s stock, valued at $8,072,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Donald Weinstein sold 5,075 shares of the stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $245.00, for a total transaction of $1,243,375.00. Following the completion of the sale, the vice president now owns 32,950 shares of the company’s stock, valued at $8,072,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carlos A. Rodriguez sold 37,594 shares of the stock in a transaction on Monday, January 9th. The stock was sold at an average price of $241.29, for a total transaction of $9,071,056.26. Following the sale, the insider now directly owns 44,481 shares of the company’s stock, valued at approximately $10,732,820.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,350 shares of company stock worth $25,301,670. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. Mizuho cut their price objective on shares of Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, January 26th. Wolfe Research increased their price objective on shares of Automatic Data Processing from $220.00 to $225.00 in a report on Thursday, January 5th. Barclays cut their price objective on shares of Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a report on Sunday, January 29th. JPMorgan Chase & Co. cut their price objective on shares of Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, January 26th. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday, March 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $246.10.

Automatic Data Processing Profile

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.