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

BerganKDV Wealth Management LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,952 shares of the business services provider’s stock after purchasing an additional 1,314 shares during the period. BerganKDV Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,963,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Automatic Data Processing by 50.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,649,392 shares of the business services provider’s stock worth $499,331,000 after buying an additional 891,869 shares during the last quarter. BlueSpruce Investments LP boosted its stake in shares of Automatic Data Processing by 70.7% in the first quarter. BlueSpruce Investments LP now owns 1,608,644 shares of the business services provider’s stock worth $303,181,000 after buying an additional 666,403 shares during the last quarter. Morgan Stanley boosted its stake in shares of Automatic Data Processing by 4.3% in the first quarter. Morgan Stanley now owns 14,243,758 shares of the business services provider’s stock worth $2,684,521,000 after buying an additional 584,565 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Automatic Data Processing by 81.3% in the first quarter. Prudential Financial Inc. now owns 1,275,902 shares of the business services provider’s stock worth $240,469,000 after buying an additional 572,005 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Automatic Data Processing by 19.4% in the first quarter. Ameriprise Financial Inc. now owns 3,074,158 shares of the business services provider’s stock worth $579,991,000 after buying an additional 498,893 shares during the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on ADP shares. JPMorgan Chase & Co. downgraded Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 price target on the stock. in a research report on Tuesday, August 17th. They noted that the move was a valuation call. Barclays raised their target price on Automatic Data Processing from $212.00 to $227.00 and gave the company an “overweight” rating in a research report on Monday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on Automatic Data Processing from $192.00 to $210.00 and gave the company a “hold” rating in a research report on Thursday, July 29th. Credit Suisse Group downgraded Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 target price on the stock. in a research report on Monday, August 16th. They noted that the move was a valuation call. Finally, Jefferies Financial Group raised their target price on Automatic Data Processing from $200.00 to $215.00 and gave the company a “hold” rating in a research report on Wednesday, July 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $196.79.

In other news, VP Deborah L. Dyson sold 2,428 shares of Automatic Data Processing stock in a transaction dated Friday, July 9th. The stock was sold at an average price of $202.00, for a total transaction of $490,456.00. Following the sale, the vice president now owns 26,614 shares in the company, valued at $5,376,028. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Alexander Quevedo sold 950 shares of Automatic Data Processing stock in a transaction dated Thursday, July 29th. The stock was sold at an average price of $209.25, for a total value of $198,787.50. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Shares of ADP traded up $0.84 during midday trading on Wednesday, hitting $200.58. 27,911 shares of the stock were exchanged, compared to its average volume of 1,745,339. Automatic Data Processing, Inc. has a 52-week low of $127.31 and a 52-week high of $217.15. The stock has a fifty day simple moving average of $207.88 and a 200 day simple moving average of $197.53. The firm has a market cap of $84.86 billion, a P/E ratio of 32.91, a P/E/G ratio of 2.52 and a beta of 0.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.07 and a current ratio of 1.07.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.14 by $0.06. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.67 billion. Automatic Data Processing had a return on equity of 44.73% and a net margin of 17.32%. During the same period last year, the business posted $1.14 earnings per share. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 6.64 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be issued a $0.93 dividend. The ex-dividend date is Thursday, September 9th. This represents a $3.72 dividend on an annualized basis and a yield of 1.85%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.79%.

Automatic Data Processing Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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