Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Evermay Wealth Management LLC

Evermay Wealth Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,603 shares of the business services provider’s stock after purchasing an additional 62 shares during the period. Evermay Wealth Management LLC’s holdings in Automatic Data Processing were worth $805,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ten Capital Wealth Advisors LLC increased its holdings in shares of Automatic Data Processing by 110.7% in the first quarter. Ten Capital Wealth Advisors LLC now owns 118 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 62 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Automatic Data Processing in the first quarter valued at about $28,000. Coppell Advisory Solutions Corp. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at about $33,000. Arlington Partners LLC purchased a new stake in shares of Automatic Data Processing in the first quarter worth about $36,000. Finally, Rebalance LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $39,000. 79.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Maria Black sold 17,326 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was 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 in the company, valued at $18,051,533.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Don Mcguire sold 3,880 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $253.90, for a total value of $985,132.00. Following the completion of the sale, the vice president now owns 20,665 shares of the company’s stock, valued at $5,246,843.50. The transaction was disclosed in a legal filing with the SEC, which is available 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 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 disclosure for this sale can be found here. Insiders have sold a total of 117,835 shares of company stock worth $29,763,730 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

ADP stock traded down $0.75 during mid-day trading on Friday, reaching $249.37. 1,191,044 shares of the company’s stock were exchanged, compared to its average volume of 1,227,624. The company has a market cap of $102.74 billion, a price-to-earnings ratio of 30.41, a price-to-earnings-growth ratio of 2.34 and a beta of 0.81. The stock’s 50 day moving average is $243.57 and its 200 day moving average is $225.93. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $274.92.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.06. The business had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a return on equity of 107.15% and a net margin of 18.94%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.50 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 8th will be given a $1.25 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $5.00 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 60.98%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. UBS Group assumed coverage on Automatic Data Processing in a research note on Friday, June 2nd. They issued a “neutral” rating and a $230.00 target price on the stock. Robert W. Baird upped their target price on Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. Morgan Stanley upped their target price on Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Barclays upped their target price on Automatic Data Processing from $275.00 to $285.00 in a research note on Friday, July 28th. Finally, Jefferies Financial Group upped their target price on Automatic Data Processing from $240.00 to $260.00 in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $249.57.

About Automatic Data Processing

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.