Vise Technologies Inc. Buys New Holdings in Automatic Data Processing, Inc. $ADP

Key Points

• Vise Technologies acquired 27,776 ADP shares worth approximately $7.17 million in the third quarter. Institutional investors collectively own about 80.03% of ADP’s outstanding stock.
• Analysts maintain a generally cautious outlook, with ADP receiving a consensus “Hold” rating and an average price target of $285.00, despite targets ranging as high as $340.
• ADP reported quarterly EPS of $2.82, beating estimates, while revenue increased 6.1% year over year to $5.49 billion. The company also pays an annualized dividend of $6.80 per share, yielding approximately 2.3%.

Vise Technologies Inc. acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,776 shares of the business services provider's stock, valued at approximately $7,168,000.

A number of other institutional investors have also recently made changes to their positions in ADP. Investment Partners LTD. grew its holdings in Automatic Data Processing by 46.8% during the 3rd quarter. Investment Partners LTD. now owns 10,250 shares of the business services provider's stock valued at $2,645,000 after buying an additional 3,270 shares in the last quarter. Cidel Asset Management Inc. lifted its position in Automatic Data Processing by 8.8% during the third quarter. Cidel Asset Management Inc. now owns 2,093 shares of the business services provider's stock valued at $540,000 after purchasing an additional 169 shares during the last quarter. MGO One Seven LLC grew its position in Automatic Data Processing by 9.1% in the third quarter. MGO One Seven LLC now owns 15,139 shares of the business services provider's stock worth $3,907,000 after acquiring an additional 1,268 shares in the last quarter. Marin Bay Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $232,000. Finally, Americana Partners LLC increased its position in Automatic Data Processing by 3.6% during the third quarter. Americana Partners LLC now owns 36,145 shares of the business services provider's stock valued at $9,328,000 after acquiring an additional 1,254 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank Of Canada reissued a "sector perform" rating and issued a $290.00 price objective on shares of Automatic Data Processing in a research note on Thursday, October 29th. TD Cowen increased their target price on shares of Automatic Data Processing from $216.00 to $223.00 and gave the stock a "hold" rating in a report on Monday, July 6th. Guggenheim reiterated a "buy" rating and issued a $340.00 price target on shares of Automatic Data Processing in a report on Thursday, October 29th. Citigroup increased their target price on shares of Automatic Data Processing from $287.00 to $295.00 and gave the company a "neutral" rating in a research report on Thursday, October 29th. Finally, Cantor Fitzgerald boosted their price objective on shares of Automatic Data Processing from $310.00 to $336.00 and gave the company an "overweight" rating in a report on Friday. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus target price of $285.00.

Automatic Data Processing Stock Performance

ADP opened at $298.78 on Tuesday. The firm has a fifty day moving average price of $277.61 and a 200 day moving average price of $241.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.03 and a quick ratio of 1.05. Automatic Data Processing, Inc. has a 1 year low of $188.16 and a 1 year high of $309.40. The stock has a market cap of $118.39 billion, a P/E ratio of 26.49, a P/E/G ratio of 2.58 and a beta of 0.83.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.05. Automatic Data Processing had a return on equity of 77.01% and a net margin of 20.33%. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.48 billion. During the same period last year, the firm earned $2.49 EPS. The company's quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 12.36 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 11th were paid a dividend of $1.70 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 2.3%. Automatic Data Processing's payout ratio is currently 60.28%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 798 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $280.00, for a total value of $223,440.00. Following the transaction, the vice president owned 13,193 shares in the company, valued at $3,694,040. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Maria Black sold 29,810 shares of the firm's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $280.91, for a total value of $8,373,927.10. Following the completion of the transaction, the chief executive officer owned 80,624 shares in the company, valued at $22,648,087.84. The trade was a 26.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 34,286 shares of company stock valued at $9,669,082. 0.15% of the stock is owned by insiders.

About Automatic Data Processing

Automatic Data Processing, Inc NASDAQ: ADP is a global provider of human capital management and business outsourcing solutions. The company helps employers manage payroll, human resources, workforce administration, benefits, tax compliance, time and attendance, talent management, and related employment processes.

ADP offers cloud-based platforms and services designed for businesses of various sizes, from small enterprises to large organizations. Its portfolio includes payroll processing, human resources management, employee benefits administration, retirement services, workforce management, data analytics, and professional employer organization services through ADP TotalSource.

Founded in 1949, ADP serves businesses in the United States and international markets.

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