Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Cyndeo Wealth Partners LLC

Cyndeo Wealth Partners LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,397 shares of the business services provider’s stock after purchasing an additional 6,493 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Automatic Data Processing were worth $7,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its position in shares of Automatic Data Processing by 14.2% in the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after acquiring an additional 264,466 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Automatic Data Processing by 195.1% during the 1st quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares during the period. Cornerstone Wealth Group LLC acquired a new stake in shares of Automatic Data Processing during the first quarter worth $2,924,000. Finally, LVW Advisors LLC grew its position in shares of Automatic Data Processing by 23.8% in the first quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after purchasing an additional 740 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing 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 sale, the vice president now owns 41,696 shares of the company’s stock, valued at $11,440,548.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the sale, the vice president now owns 41,696 shares in the company, valued at $11,440,548.48. 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 the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This represents 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 have sold 58,817 shares of company stock valued at $15,999,208. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.1 %

Shares of NASDAQ ADP opened at $292.29 on Friday. The stock has a fifty day moving average price of $276.64 and a 200 day moving average price of $256.90. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The company has a market cap of $119.63 billion, a P/E ratio of 32.62, a P/E/G ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 analyst estimates 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 revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

Several research firms have commented on ADP. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $267.83.

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.