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Segment Wealth Management LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Automatic Data Processing logo with Computer and Technology background

Segment Wealth Management LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,232 shares of the business services provider's stock after acquiring an additional 869 shares during the quarter. Automatic Data Processing accounts for approximately 1.2% of Segment Wealth Management LLC's investment portfolio, making the stock its 20th biggest position. Segment Wealth Management LLC's holdings in Automatic Data Processing were worth $18,097,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. AMG National Trust Bank increased its position in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after buying an additional 33 shares during the period. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after buying an additional 35 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock valued at $1,079,000 after buying an additional 36 shares during the period. Canton Hathaway LLC increased its position in shares of Automatic Data Processing by 6.7% during the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock valued at $174,000 after buying an additional 37 shares during the period. Finally, Delta Financial Advisors LLC increased its position in shares of Automatic Data Processing by 0.3% during the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock valued at $4,266,000 after buying an additional 37 shares during the period. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

NASDAQ ADP traded up $3.98 on Monday, reaching $310.24. 1,703,389 shares of the company's stock traded hands, compared to its average volume of 1,715,202. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $329.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day simple moving average of $309.78 and a 200 day simple moving average of $302.99. The stock has a market cap of $125.93 billion, a PE ratio of 31.75, a P/E/G ratio of 3.18 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. During the same period last year, the business earned $2.88 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is currently 63.05%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ADP. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. TD Securities upped their price target on Automatic Data Processing from $298.00 to $321.00 and gave the company a "hold" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada restated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, UBS Group decreased their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $307.08.

Get Our Latest Report on Automatic Data Processing

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company's stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Profile

(Free Report)

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.

See Also

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

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