Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Centaurus Financial Inc.

Posted by MarketBeat News on Mar 18th, 2023

Centaurus Financial Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,723 shares of the business services provider’s stock after purchasing an additional 148 shares during the quarter. Centaurus Financial Inc.’s holdings in Automatic Data Processing were worth $616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its stake in Automatic Data Processing by 1.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 4,164 shares of the business services provider’s stock valued at $942,000 after purchasing an additional 41 shares during the last quarter. TCI Wealth Advisors Inc. grew its holdings in Automatic Data Processing by 8.1% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 550 shares of the business services provider’s stock valued at $124,000 after buying an additional 41 shares during the period. Congress Wealth Management LLC DE grew its holdings in Automatic Data Processing by 0.6% in the 2nd quarter. Congress Wealth Management LLC DE now owns 6,707 shares of the business services provider’s stock valued at $1,408,000 after buying an additional 43 shares during the period. Well Done LLC grew its holdings in Automatic Data Processing by 3.1% in the 3rd quarter. Well Done LLC now owns 1,545 shares of the business services provider’s stock valued at $349,000 after buying an additional 46 shares during the period. Finally, Tradewinds LLC. grew its holdings in Automatic Data Processing by 1.8% in the 3rd quarter. Tradewinds LLC. now owns 2,574 shares of the business services provider’s stock valued at $582,000 after buying an additional 46 shares during the period. Institutional investors and hedge funds own 79.24% of the company’s stock.

Automatic Data Processing Stock Down 1.2 %

NASDAQ ADP opened at $213.22 on Friday. The stock has a market cap of $88.35 billion, a PE ratio of 28.32, a P/E/G ratio of 2.19 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $196.61 and a fifty-two week high of $274.92. The business has a 50 day moving average price of $226.90 and a two-hundred day moving average price of $237.26. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.00.

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Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. The firm had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. Automatic Data Processing’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

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

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 52,254 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $234.15, for a total value of $12,235,274.10. Following the transaction, the insider now directly owns 44,481 shares of the company’s stock, valued at approximately $10,415,226.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 52,254 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $234.15, for a total value of $12,235,274.10. Following the transaction, the insider now directly owns 44,481 shares of the company’s stock, valued at approximately $10,415,226.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Donald Weinstein sold 11,427 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $240.83, for a total value of $2,751,964.41. Following the completion of the transaction, the vice president now directly owns 32,950 shares in the company, valued at $7,935,348.50. The disclosure for this sale can be found here. Insiders have sold a total of 106,350 shares of company stock valued at $25,301,670 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Automatic Data Processing Company 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.