Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 33,319.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,018 shares of the business services provider’s stock after acquiring an additional 6,997 shares during the period. Frank Rimerman Advisors LLC’s holdings in Automated Data Processing were worth $1,675,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Automated Data Processing by 4.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 64,837 shares of the business services provider’s stock worth 15,476 $.000 after acquiring an additional 2,950 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in Automatic Data Processing by 1.3% in the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock valued at $828,000 after purchasing an additional 43 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Automatic Data Processing by 8.6% during the second quarter. Ensign Peak Advisors Inc now owns 106,152 shares of the business services provider’s stock worth $25,337,000 after purchasing an additional 8,424 shares during the last quarter. Chesapeake Wealth Management lifted its position in shares of Automated Data Processing by 8.7% in the second quarter. Chesapeake Wealth Management now owns 1,062 shares of the business services provider’s stock worth $253,000 after purchasing an additional 85 shares during the last quarter. Finally, Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $27,000. 80.03% of the shares are held by hedge funds and other institutional investors.

Stock performance of automated data processing

NASDAQ:ADP opened at $276.41 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01, and a quick ratio of 1.01. The firm has a market cap of $113.13 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 3.02 and a beta of 0.79. The company’s fifty day moving average price is $264.76 and its 200 day moving average price is $251.61. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $281.54.

Automatic Data Processing (NASDAQ:ADP – Get Your Free Report ) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. Automated Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. In the same quarter last year, the business earned $1.89 EPS. The company’s revenue rose 7.2% year-over-year. On average, sell-side analysts expect that Automatic Data Processing, Inc. to record 10.04 EPS for the current year.

Automated data processing is paying dividends

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $1.40 per share. This represents an annualized dividend of $5.60 and a yield of 2.03%. The ex-dividend date is Friday, September 13. The payout rate of automatic data processing is 62.50%.

The Wall Street analyst weighs in

Several equities research analysts recently commented on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, August 1st. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $265.36.

Check out our latest research report on automatic data processing

Internal transactions to automatic data processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In other Automated Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s shares.

Automatic data processing company 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.

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