IHT Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,498 shares of the business services provider’s stock after purchasing an additional 1,353 shares during the period. IHT Wealth Management LLC’s holdings in Automatic Data Processing were worth $674,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Guardian Life Insurance Co. of America raised its stake in Automatic Data Processing by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock worth $178,000 after buying an additional 12 shares during the last quarter. Washington Trust Bank raised its stake in Automatic Data Processing by 0.4% during the second quarter. Washington Trust Bank now owns 3,392 shares of the business services provider’s stock worth $348,000 after buying an additional 12 shares during the last quarter. Flagship Harbor Advisors LLC raised its stake in Automatic Data Processing by 0.6% during the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock worth $282,000 after buying an additional 16 shares during the last quarter. Personal Capital Advisors Corp raised its stake in Automatic Data Processing by 0.7% during the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock worth $243,000 after buying an additional 16 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Automatic Data Processing by 1.8% during the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after buying an additional 17 shares during the last quarter. Institutional investors own 78.41% of the company’s stock.

In related news, VP Brock Albinson sold 3,663 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $106.54, for a total transaction of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares in the company, valued at $669,816.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Maria Black sold 631 shares of the business’s stock in a transaction dated Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the transaction, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

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A number of brokerages recently weighed in on ADP. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada lifted their target price on shares of Automatic Data Processing from $94.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reissued a “hold” rating and set a $108.00 target price (up previously from $103.00) on shares of Automatic Data Processing in a research note on Sunday, July 30th. Citigroup Inc. reissued a “neutral” rating and set a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of Automatic Data Processing in a research note on Wednesday, August 9th. Thirteen analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $112.37.

Shares of Automatic Data Processing, Inc. (ADP) opened at $110.56 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. The company has a market cap of $49,018.91, a PE ratio of 29.55, a PEG ratio of 2.83 and a beta of 0.87. Automatic Data Processing, Inc. has a 52-week low of $94.11 and a 52-week high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. research analysts anticipate that Automatic Data Processing, Inc. will post 3.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, December 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.28%. Automatic Data Processing’s payout ratio is presently 58.02%.

About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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