GenWealth Group Inc. Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

GenWealth Group Inc. purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, HoldingsChannel reports. The fund purchased 725 shares of the business services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter valued at approximately $27,000. Keener Financial Planning LLC boosted 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 valued at $28,000 after purchasing an additional 76 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing during the first quarter worth $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing in the first quarter valued at $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated 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. This 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 link. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.9 %

Shares of NASDAQ ADP opened at $291.00 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50-day moving average price of $274.20 and a 200-day moving average price of $255.74. The stock has a market capitalization of $119.10 billion, a P/E ratio of 32.48, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $291.77.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a 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%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Citigroup lifted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two research 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. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $267.83.

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.