Axxcess Wealth Management LLC Has $9.69 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Axxcess Wealth Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,015 shares of the business services provider’s stock after purchasing an additional 2,247 shares during the period. Axxcess Wealth Management LLC’s holdings in Automatic Data Processing were worth $9,690,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Covestor Ltd raised its stake in shares of Automatic Data Processing by 6.0% in the third quarter. Covestor Ltd now owns 1,067 shares of the business services provider’s stock valued at $295,000 after acquiring an additional 60 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Automatic Data Processing by 6.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,836 shares of the business services provider’s stock valued at $4,383,000 after purchasing an additional 894 shares during the last quarter. Carr Financial Group Corp acquired a new position in Automatic Data Processing in the third quarter worth $227,000. Sheets Smith Wealth Management bought a new stake in shares of Automatic Data Processing during the third quarter worth $534,000. Finally, Atria Investments Inc increased its stake in shares of Automatic Data Processing by 1.7% in the third quarter. Atria Investments Inc now owns 63,540 shares of the business services provider’s stock valued at $17,583,000 after buying an additional 1,059 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

NASDAQ:ADP opened at $304.73 on Friday. The firm has a market capitalization of $124.17 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $225.38 and a 1-year high of $306.92. The business’s 50-day moving average price is $284.12 and its two-hundred day moving average price is $261.82. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.02%. Automatic Data Processing’s payout ratio is currently 59.77%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. 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 ninety days, insiders sold 97,792 shares of company stock valued at $27,691,708. Company insiders own 0.21% of the company’s stock.

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.