Arcadia Wealth Management Inc. Has $596,000 Stock Position in Automatic Data Processing, Inc. $ADP

Arcadia Wealth Management Inc. lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,934 shares of the business services provider’s stock after selling 100 shares during the period. Arcadia Wealth Management Inc.’s holdings in Automatic Data Processing were worth $596,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Bank of Jackson Hole Trust grew its stake in Automatic Data Processing by 42.6% during the second quarter. Bank of Jackson Hole Trust now owns 703 shares of the business services provider’s stock worth $217,000 after purchasing an additional 210 shares during the period. Austin Private Wealth LLC boosted its holdings in Automatic Data Processing by 5.6% in the second quarter. Austin Private Wealth LLC now owns 1,126 shares of the business services provider’s stock worth $347,000 after acquiring an additional 60 shares in the last quarter. Fairfield Financial Advisors LTD boosted its holdings in Automatic Data Processing by 2.4% in the second quarter. Fairfield Financial Advisors LTD now owns 25,747 shares of the business services provider’s stock worth $7,940,000 after acquiring an additional 603 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Automatic Data Processing by 1.0% in the second quarter. New York Life Investment Management LLC now owns 60,839 shares of the business services provider’s stock worth $18,763,000 after acquiring an additional 596 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its holdings in Automatic Data Processing by 5.7% in the second quarter. Private Wealth Partners LLC now owns 1,335 shares of the business services provider’s stock worth $412,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.3%

ADP stock opened at $279.63 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $272.62 and a twelve month high of $329.93. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $292.39 and its 200-day moving average is $302.08. The firm has a market capitalization of $113.28 billion, a PE ratio of 28.02, a P/E/G ratio of 2.57 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.03. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%.The company had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.05 billion. During the same quarter last year, the company earned $2.09 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Friday, September 12th were given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 61.72%.

Analysts Set New Price Targets

Several brokerages have issued reports on ADP. Stifel Nicolaus increased their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a “hold” rating in a report on Thursday, July 31st. Dbs Bank upgraded Automatic Data Processing to a “hold” rating in a report on Thursday, August 21st. Morgan Stanley increased their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. BMO Capital Markets upgraded Automatic Data Processing to a “hold” rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Finally, UBS Group cut their price target on Automatic Data Processing from $315.00 to $290.00 and set a “neutral” rating on the stock in a report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $313.17.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,373 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $296.57, for a total transaction of $407,190.61. Following the completion of the sale, the vice president directly owned 11,781 shares of the company’s stock, valued at approximately $3,493,891.17. This trade represents a 10.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael A. Bonarti sold 8,728 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $298.43, for a total value of $2,604,697.04. Following the sale, the vice president directly owned 80,531 shares of the company’s stock, valued at $24,032,866.33. The trade was a 9.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 52,516 shares of company stock valued at $15,632,410 in the last ninety days. Insiders own 0.20% of the company’s stock.

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.