HBW Advisory Services LLC Has $979,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

HBW Advisory Services LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,452 shares of the business services provider’s stock after purchasing an additional 638 shares during the period. HBW Advisory Services LLC’s holdings in Automatic Data Processing were worth $979,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Morgan Stanley raised its holdings in Automatic Data Processing by 7.8% in the 4th quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock valued at $2,629,852,000 after buying an additional 794,328 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Automatic Data Processing by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 9,045,455 shares of the business services provider’s stock worth $2,157,923,000 after purchasing an additional 123,725 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Automatic Data Processing by 10.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,586,824 shares of the business services provider’s stock valued at $2,051,049,000 after purchasing an additional 822,790 shares during the period. Moneta Group Investment Advisors LLC raised its position in Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after purchasing an additional 6,763,553 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Automatic Data Processing by 0.4% during the 1st quarter. Wellington Management Group LLP now owns 5,182,839 shares of the business services provider’s stock worth $1,153,855,000 after buying an additional 20,771 shares during the period. Institutional investors and hedge funds own 79.37% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, insider Carlos A. Rodriguez sold 52,254 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total value of $12,955,334.22. Following the completion of the sale, the insider now directly owns 44,859 shares of the company’s stock, valued at approximately $11,121,891.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Carlos A. Rodriguez sold 58,864 shares of the company’s 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 transaction, the insider now directly owns 44,859 shares of the company’s stock, valued at $11,233,590.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Carlos A. Rodriguez sold 52,254 shares of Automatic Data Processing stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total value of $12,955,334.22. Following the sale, the insider now owns 44,859 shares in the company, valued at $11,121,891.87. The disclosure for this sale can be found here. Insiders have sold a total of 170,089 shares of company stock valued at $42,719,064 over the last 90 days. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective 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. UBS Group assumed coverage on shares of Automatic Data Processing in a research note on Friday, June 2nd. They set a “neutral” rating and a $230.00 target price for the company. Morgan Stanley upped their price target on shares of Automatic Data Processing from $240.00 to $260.00 in a research report on Thursday, July 27th. Mizuho lifted their price objective on Automatic Data Processing from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, Barclays upped their target price on Automatic Data Processing from $275.00 to $285.00 in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $249.57.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $248.29 on Friday. The company has a market cap of $102.29 billion, a P/E ratio of 30.28, a PEG ratio of 2.32 and a beta of 0.81. The company has a fifty day simple moving average of $245.31 and a 200 day simple moving average of $226.47. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.85. 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 issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The firm had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

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.