Nelson Van Denburg & Campbell Wealth Management Group LLC Boosts Stake in Automatic Data Processing (NASDAQ:ADP)

Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Automatic Data Processing (NASDAQ:ADP) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,043 shares of the business services provider’s stock after buying an additional 540 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $2,321,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ADP. Vanguard Group Inc. grew its stake in shares of Automatic Data Processing by 1.7% during the second quarter. Vanguard Group Inc. now owns 38,214,507 shares of the business services provider’s stock valued at $6,318,005,000 after buying an additional 644,178 shares during the last quarter. BlackRock Inc. grew its stake in Automatic Data Processing by 1.2% in the second quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock worth $5,117,899,000 after purchasing an additional 368,108 shares in the last quarter. Northern Trust Corp grew its stake in Automatic Data Processing by 1.3% in the first quarter. Northern Trust Corp now owns 6,692,907 shares of the business services provider’s stock worth $1,069,125,000 after purchasing an additional 86,449 shares in the last quarter. Fundsmith LLP grew its stake in Automatic Data Processing by 1.1% in the first quarter. Fundsmith LLP now owns 5,994,171 shares of the business services provider’s stock worth $957,509,000 after purchasing an additional 66,480 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Automatic Data Processing by 2.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,932,049 shares of the business services provider’s stock worth $319,426,000 after purchasing an additional 37,951 shares in the last quarter. Institutional investors own 80.26% of the company’s stock.

Automatic Data Processing stock traded up $0.90 during mid-day trading on Friday, reaching $160.25. 40,956 shares of the company were exchanged, compared to its average volume of 1,810,107. The business has a fifty day moving average of $166.18 and a 200 day moving average of $162.76. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $68.92 billion, a P/E ratio of 29.41, a PEG ratio of 1.98 and a beta of 0.90. Automatic Data Processing has a 12-month low of $121.40 and a 12-month high of $174.50.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.01. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. Sell-side analysts predict that Automatic Data Processing will post 6.16 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 1.97%. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total transaction of $7,986,686.40. Following the completion of the sale, the chief executive officer now owns 132,338 shares in the company, valued at approximately $21,399,054.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brock Albinson sold 6,683 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the sale, the vice president now owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,846 shares of company stock valued at $9,395,534. 0.33% of the stock is owned by company insiders.

Several research analysts recently issued reports on ADP shares. Morgan Stanley increased their price objective on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Jefferies Financial Group increased their price objective on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. BidaskClub cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Friday, June 21st. Finally, JPMorgan Chase & Co. increased their price objective on Automatic Data Processing from $170.00 to $177.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $176.10.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

Further Reading: Diluted Earnings Per Share

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

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