Vest Financial LLC Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Vest Financial LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,226 shares of the business services provider’s stock after acquiring an additional 18,636 shares during the period. Automatic Data Processing accounts for about 1.1% of Vest Financial LLC’s investment portfolio, making the stock its 26th largest position. Vest Financial LLC’s holdings in Automatic Data Processing were worth $54,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. OLD National Bancorp IN lifted its holdings in shares of Automatic Data Processing by 4.7% during the 3rd quarter. OLD National Bancorp IN now owns 12,692 shares of the business services provider’s stock worth $3,512,000 after acquiring an additional 567 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing by 31.1% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 27,397 shares of the business services provider’s stock worth $7,582,000 after acquiring an additional 6,493 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in shares of Automatic Data Processing by 0.7% during the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 84,114 shares of the business services provider’s stock worth $23,277,000 after acquiring an additional 545 shares during the period. Resonant Capital Advisors LLC raised its holdings in Automatic Data Processing by 0.9% in the third quarter. Resonant Capital Advisors LLC now owns 13,597 shares of the business services provider’s stock valued at $3,779,000 after buying an additional 115 shares during the period. Finally, Veracity Capital LLC purchased a new position in Automatic Data Processing in the third quarter valued at approximately $204,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 0.1 %

NASDAQ:ADP traded up $0.33 during trading hours on Friday, hitting $292.29. The stock had a trading volume of 2,738,202 shares, compared to its average volume of 1,636,240. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $294.18. The business has a 50 day simple moving average of $276.64 and a two-hundred day simple moving average of $256.90. The company has a market cap of $119.63 billion, a PE ratio of 32.62, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the company earned $1.89 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 62.50%.

Analysts Set New Price Targets

Several research analysts recently commented on ADP shares. Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. raised their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. Stifel Nicolaus raised their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $267.83.

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.