Financial Architects Inc Acquires 1,063 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Financial Architects Inc increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,991 shares of the business services provider’s stock after buying an additional 1,063 shares during the period. Financial Architects Inc’s holdings in Automatic Data Processing were worth $3,375,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC boosted its holdings in Automatic Data Processing by 4.1% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,217 shares of the business services provider’s stock worth $1,235,000 after buying an additional 247 shares during the period. National Asset Management Inc. boosted its holdings in Automatic Data Processing by 2.5% in the 2nd quarter. National Asset Management Inc. now owns 25,485 shares of the business services provider’s stock worth $5,062,000 after buying an additional 616 shares during the period. One Charles Private Wealth Services LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $449,000. TRUE Private Wealth Advisors bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $219,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in Automatic Data Processing by 3.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,918 shares of the business services provider’s stock worth $5,942,000 after buying an additional 934 shares during the period. 78.39% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 2,428 shares of the firm’s stock in a transaction that occurred on Friday, July 9th. The shares were sold at an average price of $202.00, for a total transaction of $490,456.00. Following the completion of the transaction, the vice president now directly owns 26,614 shares of the company’s stock, valued at approximately $5,376,028. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Alexander Quevedo sold 950 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, July 29th. The shares were sold at an average price of $209.25, for a total transaction 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 NASDAQ:ADP traded up $0.08 during midday trading on Wednesday, reaching $199.82. 19,211 shares of the company were exchanged, compared to its average volume of 1,745,339. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.53. The business’s fifty day moving average is $207.88 and its two-hundred day moving average is $197.53. Automatic Data Processing, Inc. has a one year low of $127.31 and a one year high of $217.15. The stock has a market cap of $84.54 billion, a PE ratio of 32.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.73.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Tuesday, July 27th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.06. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.67 billion. Automatic Data Processing had a net margin of 17.32% and a return on equity of 44.73%. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 6.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 10th will be paid a $0.93 dividend. This represents a $3.72 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, September 9th. Automatic Data Processing’s dividend payout ratio is presently 61.79%.

ADP has been the subject of several analyst reports. Barclays raised their price target on shares of Automatic Data Processing from $212.00 to $227.00 and gave the company an “overweight” rating in a report on Monday, August 2nd. Morgan Stanley raised their price target on shares of Automatic Data Processing from $185.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Credit Suisse Group downgraded shares of Automatic Data Processing from an “outperform” rating to a “neutral” rating and set a $215.00 price target for the company. in a report on Monday, August 16th. They noted that the move was a valuation call. Citigroup downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating and raised their price target for the company from $212.00 to $220.00 in a report on Tuesday, August 10th. Finally, JPMorgan Chase & Co. downgraded shares of Automatic Data Processing from a “neutral” rating to an “underweight” rating and set a $224.00 price target for the company. in a report on Tuesday, August 17th. They noted that the move was a valuation call. Two 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $196.79.

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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