Stratos Wealth Partners LTD. Has $15.85 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Stratos Wealth Partners LTD. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,263 shares of the business services provider’s stock after buying an additional 2,249 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Automatic Data Processing were worth $15,846,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ADP. Aspiriant LLC grew its stake in Automatic Data Processing by 98.0% during the third quarter. Aspiriant LLC now owns 2,336 shares of the business services provider’s stock worth $647,000 after purchasing an additional 1,156 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Automatic Data Processing by 4.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 8,702 shares of the business services provider’s stock valued at $2,408,000 after acquiring an additional 348 shares in the last quarter. Sonoma Private Wealth LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $467,000. Claro Advisors LLC boosted its stake in Automatic Data Processing by 222.7% during the third quarter. Claro Advisors LLC now owns 2,988 shares of the business services provider’s stock worth $827,000 after acquiring an additional 2,062 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Automatic Data Processing by 2.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,518 shares of the business services provider’s stock valued at $14,257,000 after purchasing an additional 994 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 in the company, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. 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 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADP shares. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective 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 increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Stifel Nicolaus boosted their price target 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 lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $267.83.

Automatic Data Processing Trading Up 0.1 %

Shares of ADP stock opened at $292.29 on Friday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18. The company has a 50-day simple moving average of $276.64 and a two-hundred day simple moving average of $256.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $119.63 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.13 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. The business had revenue of $4.80 billion for 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%. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $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 Announces Dividend

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

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.