Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Johnson Financial Group Inc.

Johnson Financial Group Inc. boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 6,023 shares of the business services provider’s stock after buying an additional 958 shares during the period. Johnson Financial Group Inc.’s holdings in Automatic Data Processing were worth $1,343,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in shares of Automatic Data Processing by 19.3% in the first quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock valued at $30,532,000 after purchasing an additional 21,671 shares in the last quarter. Dakota Wealth Management purchased a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $571,000. Zions Bancorporation N.A. raised its position in shares of Automatic Data Processing by 12.4% during the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock worth $103,000 after purchasing an additional 50 shares during the last quarter. Covestor Ltd lifted its stake in Automatic Data Processing by 82.8% in the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock valued at $145,000 after buying an additional 288 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in Automatic Data Processing by 4.4% during the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock valued at $660,000 after buying an additional 121 shares during the last quarter. 79.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 17,326 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the completion of the sale, the chief executive officer now directly owns 70,782 shares of the company’s stock, valued at approximately $18,051,533.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP John Ayala sold 27,753 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $254.79, for a total value of $7,071,186.87. Following the transaction, the vice president now directly owns 45,893 shares of the company’s stock, valued at approximately $11,693,077.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Maria Black sold 17,326 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $255.03, for a total value of $4,418,649.78. Following the transaction, the chief executive officer now owns 70,782 shares of the company’s stock, valued at $18,051,533.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,971 shares of company stock valued at $15,023,007. Corporate insiders own 0.33% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ:ADP opened at $250.12 on Friday. The stock has a 50-day simple moving average of $242.98 and a 200-day simple moving average of $225.78. The stock has a market capitalization of $103.05 billion, a P/E ratio of 30.50, a PEG ratio of 2.35 and a beta of 0.81. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $274.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.99 and a current ratio of 0.99.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.06. The company had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. Automatic Data Processing’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 60.98%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird boosted their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. increased their price target on Automatic Data Processing from $260.00 to $280.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 22nd. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $240.00 to $260.00 in a research report on Wednesday, July 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, Barclays lifted their price target on Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $249.57.

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.