Trifecta Capital Advisors LLC Acquires 40 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Trifecta Capital Advisors LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 22.1% during the third quarter, HoldingsChannel reports. The firm owned 221 shares of the business services provider’s stock after buying an additional 40 shares during the period. Trifecta Capital Advisors LLC’s holdings in Automatic Data Processing were worth $61,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Wedmont Private Capital raised its stake in Automatic Data Processing by 2.6% during the 1st quarter. Wedmont Private Capital now owns 3,375 shares of the business services provider’s stock valued at $844,000 after buying an additional 85 shares during the last quarter. Allied Investment Advisors LLC bought a new position in Automatic Data Processing in the first quarter valued at about $219,000. RFG Advisory LLC lifted its holdings in Automatic Data Processing by 13.7% in the first quarter. RFG Advisory LLC now owns 9,938 shares of the business services provider’s stock valued at $2,482,000 after acquiring an additional 1,199 shares during the period. Aurora Investment Managers LLC. purchased a new position in Automatic Data Processing in the first quarter worth about $654,000. Finally, Tealwood Asset Management Inc. grew its stake in shares of Automatic Data Processing by 1.2% during the 1st quarter. Tealwood Asset Management Inc. now owns 9,507 shares of the business services provider’s stock valued at $2,374,000 after purchasing an additional 112 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, August 1st. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. 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 analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $267.83.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the firm’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 of the company’s stock, valued at approximately $2,816,946. 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 can be accessed through this hyperlink. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s 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 completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. 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 Stock Performance

ADP opened at $291.96 on Friday. 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 stock has a market capitalization of $119.50 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 3.13 and a beta of 0.79. The company has a fifty day moving average of $276.03 and a 200 day moving average of $256.51. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. 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 net margin of 19.54% and a return on equity of 89.20%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share 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. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s payout ratio 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.