Eads & Heald Wealth Management Has $2.32 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Eads & Heald Wealth Management reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,386 shares of the business services provider’s stock after selling 521 shares during the quarter. Eads & Heald Wealth Management’s holdings in Automatic Data Processing were worth $2,321,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADP. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the 2nd quarter valued at $27,000. Keener Financial Planning LLC grew its stake in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new position in shares of Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the first quarter worth about $36,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the firm’s stock in a transaction dated 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 owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. 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 three months, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on ADP. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $285.09.

Automatic Data Processing Trading Down 0.4 %

Shares of Automatic Data Processing stock opened at $288.18 on Friday. The stock has a market capitalization of $117.53 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.21 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $211.52 and a 52-week high of $294.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day simple moving average is $281.57 and its 200 day simple moving average is $259.90.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.13. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.98 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is currently 59.77%.

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.