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Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Peachtree Investment Partners LLC

Financial News Live · Feb 1, 2023 16:51

Peachtree Investment Partners LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 4.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,286 shares of the business services provider's stock after purchasing an additional 818 shares during the quarter. Automatic Data Processing accounts for about 3.1% of Peachtree Investment Partners LLC's holdings, making the stock its 7th biggest holding. Peachtree Investment Partners LLC's holdings in Automatic Data Processing were worth $4,588,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Hexagon Capital Partners LLC purchased a new position in Automatic Data Processing in the second quarter worth approximately $26,000. Wellington Shields & Co. LLC acquired a new stake in Automatic Data Processing in the second quarter valued at $29,000. Cowa LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $34,000. Castle Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth about $42,000. Finally, Arlington Partners LLC increased its holdings in shares of Automatic Data Processing by 505.9% in the 2nd quarter. Arlington Partners LLC now owns 206 shares of the business services provider's stock valued at $43,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 79.24% of the company's stock.

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Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Donald Weinstein sold 11,427 shares of the business's stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $240.83, for a total transaction of $2,751,964.41. Following the transaction, the vice president now owns 32,950 shares in the company, valued at $7,935,348.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Carlos A. Rodriguez sold 37,594 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $241.29, for a total transaction of $9,071,056.26. Following the sale, the insider now directly owns 44,481 shares in the company, valued at approximately $10,732,820.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 11,427 shares of the business's stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $240.83, for a total value of $2,751,964.41. Following the transaction, the vice president now owns 32,950 shares of the company's stock, valued at $7,935,348.50. The disclosure for this sale can be found here. Insiders have sold a total of 106,350 shares of company stock worth $25,301,670 in the last three months. 0.33% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.35 during midday trading on Wednesday, reaching $225.46. 119,243 shares of the company traded hands, compared to its average volume of 2,062,726. The firm has a market cap of $93.53 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.28 and a beta of 0.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.99 and a quick ratio of 0.97. The firm's 50 day simple moving average is $245.95 and its two-hundred day simple moving average is $241.99. Automatic Data Processing, Inc. has a 1-year low of $192.26 and a 1-year high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. Automatic Data Processing had a return on equity of 96.94% and a net margin of 18.24%. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter last year, the business posted $1.65 earnings per share. Automatic Data Processing's revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, March 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.22%. Automatic Data Processing's payout ratio is 66.40%.

Analyst Ratings Changes

Several brokerages have issued reports on ADP. Cowen raised their price objective on Automatic Data Processing to $237.00 in a report on Thursday, October 27th. Mizuho cut their target price on shares of Automatic Data Processing from $285.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, January 26th. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $253.00 to $245.00 and set an "underweight" rating for the company in a research note on Thursday, January 26th. Wolfe Research boosted their price target on Automatic Data Processing from $220.00 to $225.00 in a research report on Thursday, January 5th. Finally, StockNews.com raised Automatic Data Processing from a "hold" rating to a "buy" rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $243.50.

Automatic Data Processing Company Profile

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, 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.