Paradigm Strategies in Wealth Management LLC Purchases Shares of 744 Automatic Data Processing, Inc. (NASDAQ:ADP)

Paradigm Strategies in Wealth Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 744 shares of the business services provider’s stock, valued at approximately $206,000.

Several other hedge funds have also made changes to their positions in ADP. Capital Advisors Ltd. LLC boosted its stake in Automatic Data Processing by 3.7% during the third quarter. Capital Advisors Ltd. LLC now owns 1,806 shares of the business services provider’s stock worth $500,000 after buying an additional 64 shares in the last quarter. Modera Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 1.4% during the 3rd quarter. Modera Wealth Management LLC now owns 98,339 shares of the business services provider’s stock worth $27,213,000 after acquiring an additional 1,397 shares during the period. GHP Investment Advisors Inc. boosted its position in shares of Automatic Data Processing by 0.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 30,188 shares of the business services provider’s stock valued at $8,354,000 after acquiring an additional 194 shares in the last quarter. Consolidated Portfolio Review Corp bought a new stake in Automatic Data Processing in the third quarter valued at about $207,000. Finally, PFG Investments LLC raised its position in Automatic Data Processing by 3.4% in the third quarter. PFG Investments LLC now owns 8,773 shares of the business services provider’s stock worth $2,428,000 after purchasing an additional 292 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of Automatic Data Processing 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 completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $287.96 on Friday. 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 stock has a market capitalization of $117.86 billion, a P/E ratio of 32.14, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company’s 50 day simple moving average is $279.40 and its 200-day simple moving average is $258.45. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The business had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on ADP. Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Citigroup lifted their price target 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 equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $277.64.

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.