Modera Wealth Management LLC Buys 1,397 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Modera Wealth Management LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,339 shares of the business services provider’s stock after purchasing an additional 1,397 shares during the period. Modera Wealth Management LLC’s holdings in Automatic Data Processing were worth $27,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Vicus Capital bought a new stake in Automatic Data Processing in the first quarter worth about $211,000. New Mexico Educational Retirement Board boosted its holdings in Automatic Data Processing by 13.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 24,443 shares of the business services provider’s stock valued at $5,562,000 after acquiring an additional 2,900 shares during the period. Trilogy Capital Inc. purchased a new position in Automatic Data Processing during the 1st quarter valued at $279,000. LVW Advisors LLC increased its stake in 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 worth $962,000 after purchasing an additional 740 shares during the period. Finally, Oak Asset Management LLC lifted its position in shares of Automatic Data Processing by 3.4% during the first quarter. Oak Asset Management LLC now owns 2,745 shares of the business services provider’s stock worth $686,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Bank of America upped their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $277.64.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 in the company, 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 have sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

ADP opened at $287.96 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market cap of $117.86 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $294.18. The stock has a fifty day moving average price of $279.40 and a 200-day moving average price of $258.45.

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. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is 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.