Executive Wealth Management LLC boosted its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,474 shares of the business services provider’s stock after buying an additional 2,002 shares during the period. Automatic Data Processing makes up about 0.7% of Executive Wealth Management LLC’s investment portfolio, making the stock its 27th largest holding. Executive Wealth Management LLC’s holdings in Automatic Data Processing were worth $5,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. TRUE Private Wealth Advisors bought a new stake in shares of Automatic Data Processing in the second quarter worth $103,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Automatic Data Processing by 92.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 239,526 shares of the business services provider’s stock worth $39,534,000 after acquiring an additional 115,158 shares during the period. Hayden Royal LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth $349,000. Sunbelt Securities Inc. grew its holdings in shares of Automatic Data Processing by 8.7% in the second quarter. Sunbelt Securities Inc. now owns 7,559 shares of the business services provider’s stock worth $1,250,000 after acquiring an additional 608 shares during the period. Finally, Advisory Services Network LLC grew its holdings in shares of Automatic Data Processing by 28.4% in the second quarter. Advisory Services Network LLC now owns 6,871 shares of the business services provider’s stock worth $1,136,000 after acquiring an additional 1,520 shares during the period. 80.23% of the stock is owned by institutional investors.

In other news, VP Dermot J. O’brien sold 1,771 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total value of $286,972.84. Following the transaction, the vice president now directly owns 14,896 shares in the company, valued at $2,413,747.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

Several analysts recently commented on the company. Barclays lifted their price objective on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BidaskClub raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on Automatic Data Processing to $176.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Citigroup lifted their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $174.11.

Shares of Automatic Data Processing stock opened at $168.71 on Wednesday. The firm has a 50-day simple moving average of $165.74. Automatic Data Processing has a 52 week low of $121.40 and a 52 week high of $172.00. The stock has a market capitalization of $73.43 billion, a P/E ratio of 30.96, a price-to-earnings-growth ratio of 2.10 and a beta of 0.91. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 0.37.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the business earned $0.99 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Analysts forecast that Automatic Data Processing will post 6.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.79 dividend. The ex-dividend date is Thursday, September 12th. This represents a $3.16 annualized dividend and a dividend yield of 1.87%. Automatic Data Processing’s payout ratio is 57.98%.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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