Apella Capital LLC Purchases New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Apella Capital LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the second quarter, HoldingsChannel reports. The firm purchased 4,450 shares of the business services provider’s stock, valued at approximately $978,000.

A number of other large investors have also added to or reduced their stakes in ADP. Signet Financial Management LLC raised its stake in shares of Automatic Data Processing by 1.3% in the fourth quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock valued at $857,000 after buying an additional 45 shares during the period. PFS Investments Inc. raised its stake in shares of Automatic Data Processing by 3.4% during the 4th quarter. PFS Investments Inc. now owns 1,396 shares of the business services provider’s stock valued at $333,000 after purchasing an additional 46 shares during the period. Cornell Pochily Investment Advisors Inc. raised its stake in shares of Automatic Data Processing by 1.1% during the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 4,175 shares of the business services provider’s stock valued at $929,000 after purchasing an additional 46 shares during the period. TFC Financial Management Inc. raised its stake in shares of Automatic Data Processing by 1.6% during the 4th quarter. TFC Financial Management Inc. now owns 2,986 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 47 shares during the period. Finally, Stokes Family Office LLC raised its stake in shares of Automatic Data Processing by 1.0% during the 4th quarter. Stokes Family Office LLC now owns 4,595 shares of the business services provider’s stock valued at $1,098,000 after purchasing an additional 47 shares during the period. Institutional investors own 79.37% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total value of $14,740,722.88. Following the completion of the sale, the insider now owns 44,859 shares in the company, valued at approximately $11,233,590.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $250.42, for a total value of $14,740,722.88. Following the completion of the sale, the insider now owns 44,859 shares in the company, valued at approximately $11,233,590.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Maria Black sold 17,326 shares of the 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 completion of the transaction, 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. In the last 90 days, insiders sold 170,089 shares of company stock worth $42,719,064. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ADP. Morgan Stanley boosted their price objective on Automatic Data Processing from $240.00 to $260.00 in a research note on Thursday, July 27th. Royal Bank of Canada began coverage on Automatic Data Processing in a research note on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 price objective on the stock. Robert W. Baird boosted their price objective on Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. 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. 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 research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $249.57.

Automatic Data Processing Trading Up 0.2 %

Shares of ADP stock opened at $248.29 on Friday. The stock has a market capitalization of $102.29 billion, a PE ratio of 30.28, a P/E/G ratio of 2.32 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 business has a 50-day moving average of $245.31 and a 200 day moving average of $226.47. 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 (NASDAQ:ADP) last issued 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 company had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Automatic Data Processing had a return on equity of 107.15% and a net margin of 18.94%. Automatic Data Processing’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 EPS. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

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.