BerganKDV Wealth Management LLC Has $4.90 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

BerganKDV Wealth Management LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 7.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,530 shares of the business services provider’s stock after purchasing an additional 1,465 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Avantax Planning Partners Inc. lifted its stake in shares of Automatic Data Processing by 144.7% in the 1st quarter. Avantax Planning Partners Inc. now owns 10,229 shares of the business services provider’s stock valued at $2,328,000 after purchasing an additional 6,048 shares during the period. Beaumont Financial Partners LLC raised its stake in Automatic Data Processing by 42.2% during the 1st quarter. Beaumont Financial Partners LLC now owns 5,091 shares of the business services provider’s stock worth $1,159,000 after buying an additional 1,510 shares during the period. Teacher Retirement System of Texas raised its stake in Automatic Data Processing by 5.6% during the 1st quarter. Teacher Retirement System of Texas now owns 174,306 shares of the business services provider’s stock worth $39,662,000 after buying an additional 9,258 shares during the period. Capital Advisors Ltd. LLC raised its stake in Automatic Data Processing by 32.4% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,538 shares of the business services provider’s stock worth $350,000 after buying an additional 376 shares during the period. Finally, Wealthsource Partners LLC raised its stake in Automatic Data Processing by 3.3% during the 1st quarter. Wealthsource Partners LLC now owns 2,906 shares of the business services provider’s stock worth $661,000 after buying an additional 93 shares during the period. 78.84% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.3 %

Shares of ADP stock traded up $3.21 during trading hours on Friday, hitting $247.20. 1,168,798 shares of the company’s stock traded hands, compared to its average volume of 1,483,117. Automatic Data Processing, Inc. has a 12-month low of $192.26 and a 12-month high of $248.96. The stock has a market cap of $102.72 billion, a price-to-earnings ratio of 35.26, a PEG ratio of 2.53 and a beta of 0.84. The stock’s fifty day simple moving average is $218.44 and its two-hundred day simple moving average is $216.21. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.93.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.03. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the business earned $1.20 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts expect that Automatic Data Processing, Inc. will post 8.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Insiders Place Their Bets

In other news, VP Augusto J. Blanchard sold 567 shares of the company’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total transaction of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares in the company, valued at approximately $892,692.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Christopher D’ambrosio sold 312 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $214.07, for a total transaction of $66,789.84. Following the completion of the sale, the vice president now owns 1,663 shares of the company’s stock, valued at $355,998.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Augusto J. Blanchard sold 567 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $210.64, for a total transaction of $119,432.88. Following the sale, the vice president now directly owns 4,238 shares of the company’s stock, valued at approximately $892,692.32. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADP. Morgan Stanley upped their price target on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Barclays increased their price objective on Automatic Data Processing from $238.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, May 2nd. Citigroup increased their price objective on Automatic Data Processing from $212.00 to $230.00 in a research note on Monday, May 2nd. Wolfe Research lowered their price objective on Automatic Data Processing from $235.00 to $210.00 in a research note on Wednesday, July 20th. Finally, Cowen increased their price objective on Automatic Data Processing from $225.00 to $230.00 in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $232.20.

Automatic Data Processing Profile

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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.