IFP Advisors Inc Grows Position in Automatic Data Processing (ADP)

Share on StockTwits

IFP Advisors Inc increased its holdings in Automatic Data Processing (NASDAQ:ADP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,663 shares of the business services provider’s stock after acquiring an additional 443 shares during the quarter. IFP Advisors Inc’s holdings in Automatic Data Processing were worth $1,162,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Landaas & Co. WI ADV acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $165,000. Girard Partners LTD. acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $1,305,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Automatic Data Processing by 123.3% during the second quarter. Dynamic Advisor Solutions LLC now owns 5,281 shares of the business services provider’s stock valued at $708,000 after acquiring an additional 2,916 shares in the last quarter. Clarius Group LLC acquired a new position in shares of Automatic Data Processing during the second quarter valued at about $463,000. Finally, Toronto Dominion Bank increased its holdings in shares of Automatic Data Processing by 21.3% during the second quarter. Toronto Dominion Bank now owns 294,591 shares of the business services provider’s stock valued at $39,509,000 after acquiring an additional 51,685 shares in the last quarter. 78.93% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Stuart Sackman sold 2,685 shares of the firm’s stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $135.01, for a total value of $362,501.85. Following the completion of the sale, the vice president now directly owns 21,740 shares of the company’s stock, valued at approximately $2,935,117.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael A. Bonarti sold 2,372 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $132.66, for a total value of $314,669.52. Following the completion of the sale, the insider now directly owns 41,023 shares of the company’s stock, valued at $5,442,111.18. The disclosure for this sale can be found here. Insiders have sold a total of 23,723 shares of company stock worth $3,223,283 in the last quarter. Insiders own 0.25% of the company’s stock.

Several equities analysts have recently issued reports on ADP shares. ValuEngine upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. BMO Capital Markets upped their price objective on shares of Automatic Data Processing from $118.00 to $126.00 and gave the company a “market perform” rating in a report on Thursday, May 3rd. Morgan Stanley upped their price objective on shares of Automatic Data Processing from $114.00 to $122.00 and gave the company a “hold” rating in a report on Thursday, May 3rd. Bank of America upped their price objective on shares of Automatic Data Processing from $138.00 to $140.00 and gave the company a “buy” rating in a report on Friday, May 4th. Finally, BidaskClub upgraded shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Friday, May 4th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $137.07.

Automatic Data Processing stock opened at $142.55 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.05 and a current ratio of 1.05. Automatic Data Processing has a 12 month low of $102.81 and a 12 month high of $142.95. The company has a market capitalization of $61.02 billion, a price-to-earnings ratio of 32.77, a P/E/G ratio of 2.37 and a beta of 0.88.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.02. Automatic Data Processing had a return on equity of 50.17% and a net margin of 12.16%. The business had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.29 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. sell-side analysts expect that Automatic Data Processing will post 5.18 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be given a $0.69 dividend. The ex-dividend date is Thursday, September 13th. This represents a $2.76 annualized dividend and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

About Automatic Data Processing

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

Further Reading: Asset Allocation and Your Retirement

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply