Thrive Wealth Management LLC Acquires 64 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Thrive Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,181 shares of the business services provider’s stock after buying an additional 64 shares during the period. Thrive Wealth Management LLC’s holdings in Automatic Data Processing were worth $260,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADP. Signet Financial Management LLC grew its stake in Automatic Data Processing by 1.3% in the fourth quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock valued at $857,000 after purchasing an additional 45 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in Automatic Data Processing by 1.1% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 4,175 shares of the business services provider’s stock worth $929,000 after buying an additional 46 shares during the last quarter. PFS Investments Inc. raised its position in Automatic Data Processing by 3.4% during the fourth quarter. PFS Investments Inc. now owns 1,396 shares of the business services provider’s stock worth $333,000 after acquiring an additional 46 shares in the last quarter. TFC Financial Management Inc. lifted its stake in Automatic Data Processing by 1.6% in the fourth quarter. TFC Financial Management Inc. now owns 2,986 shares of the business services provider’s stock valued at $713,000 after acquiring an additional 47 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC grew its position in shares of Automatic Data Processing by 2.0% in the 1st quarter. S.E.E.D. Planning Group LLC now owns 2,412 shares of the business services provider’s stock valued at $537,000 after acquiring an additional 47 shares during the period. Institutional investors own 79.37% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research analyst reports. Mizuho upped their target price on shares of Automatic Data Processing from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Jefferies Financial Group raised their price objective on Automatic Data Processing from $240.00 to $260.00 in a research report on Wednesday, July 26th. Royal Bank of Canada started coverage on Automatic Data Processing in a report on Tuesday, September 5th. They set a “sector perform” rating and a $267.00 target price on the stock. Barclays upped their price objective on shares of Automatic Data Processing from $275.00 to $285.00 in a report on Friday, July 28th. Finally, Robert W. Baird raised their target price on shares of Automatic Data Processing from $235.00 to $270.00 in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $249.57.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $255.03, for a total transaction of $4,418,649.78. Following the completion of the sale, the chief executive officer now directly owns 70,782 shares in the company, valued at $18,051,533.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, CEO Maria Black sold 17,326 shares of Automatic Data Processing stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $255.03, for a total value of $4,418,649.78. Following the transaction, the chief executive officer now owns 70,782 shares in the company, valued at $18,051,533.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carlos A. Rodriguez sold 52,254 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $247.93, for a total transaction of $12,955,334.22. Following the completion of the transaction, the insider now directly owns 44,859 shares of the company’s stock, valued at approximately $11,121,891.87. The disclosure for this sale can be found here. Insiders have sold 170,089 shares of company stock valued at $42,719,064 over the last three months. 0.33% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $247.28 on Tuesday. The business has a fifty day moving average price of $246.38 and a two-hundred day moving average price of $226.89. The stock has a market capitalization of $101.88 billion, a PE ratio of 30.16, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.99 and a quick ratio of 0.99. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $274.92.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.06. Automatic Data Processing had a net margin of 18.94% and a return on equity of 107.15%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.39 billion. During the same quarter in the prior year, the business posted $1.50 earnings per share. Automatic Data Processing’s revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 8th will be paid a $1.25 dividend. The ex-dividend date is Thursday, September 7th. This represents a $5.00 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is 60.98%.

Automatic Data Processing Profile

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.