Cypress Wealth Services LLC Grows Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cypress Wealth Services LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 896 shares of the business services provider’s stock after purchasing an additional 41 shares during the quarter. Cypress Wealth Services LLC’s holdings in Automatic Data Processing were worth $248,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Automatic Data Processing by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock worth $9,932,020,000 after buying an additional 173,298 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after purchasing an additional 249,566 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the period. Capital Research Global Investors lifted its holdings in Automatic Data Processing by 2.3% in the 1st quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock worth $905,354,000 after purchasing an additional 81,869 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after purchasing an additional 139,561 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ADP shares. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Citigroup raised their target price 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. Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Stock Down 0.3 %

Shares of NASDAQ ADP opened at $286.91 on Friday. The company has a market cap of $117.43 billion, a P/E ratio of 32.02, a PEG ratio of 3.02 and a beta of 0.79. The firm has a 50-day simple moving average of $272.54 and a two-hundred day simple moving average of $254.80. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $288.30. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.95%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock valued at $15,999,208 in the last three months. Company insiders own 0.26% of the company’s stock.

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.