Ullmann Wealth Partners Group LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ullmann Wealth Partners Group LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,910 shares of the business services provider’s stock, valued at approximately $529,000.

Other hedge funds also recently bought and sold shares of the company. GenWealth Group Inc. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $201,000. Creative Planning lifted its holdings in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares during the last quarter. CX Institutional lifted its holdings in shares of Automatic Data Processing by 16.8% during the 3rd quarter. CX Institutional now owns 23,021 shares of the business services provider’s stock valued at $6,371,000 after purchasing an additional 3,313 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $243,000. Finally, Grove Bank & Trust lifted its holdings in shares of Automatic Data Processing by 2.3% during the 3rd quarter. Grove Bank & Trust now owns 4,248 shares of the business services provider’s stock valued at $1,176,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Citigroup raised their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $267.83.

Automatic Data Processing Price Performance

ADP traded down $0.96 during trading on Tuesday, reaching $290.04. The company’s stock had a trading volume of 1,532,021 shares, compared to its average volume of 1,629,352. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $274.20 and a two-hundred day simple moving average of $255.74. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18. The company has a market cap of $118.71 billion, a price-to-earnings ratio of 32.48, a PEG 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 EPS for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is presently 62.50%.

Automatic Data Processing Company 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.