Bridges Investment Management Inc. Increases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bridges Investment Management Inc. grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 369.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 99,517 shares of the business services provider's stock after acquiring an additional 78,305 shares during the period. Bridges Investment Management Inc.'s holdings in Automatic Data Processing were worth $23,754,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ADP. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider's stock valued at $28,000 after acquiring an additional 76 shares during the period. Crewe Advisors LLC purchased a new position in shares of Automatic Data Processing during the first quarter valued at approximately $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth approximately $36,000. New Millennium Group LLC purchased a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $40,000. Finally, Pineridge Advisors LLC bought a new position in Automatic Data Processing during the 4th quarter valued at approximately $39,000. Institutional investors own 80.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ADP shares. Jefferies Financial Group increased their target price on Automatic Data Processing from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an "underweight" rating in a research report on Tuesday, August 20th. Royal Bank of Canada restated a "sector perform" rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, August 1st. Barclays upped their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an "overweight" rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $265.36.

Insider Buying and Selling

In other news, VP Michael A. Bonarti sold 26,442 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company's stock, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares of the company's stock, valued at approximately $25,464,384.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

ADP stock traded down $1.28 on Friday, hitting $276.41. The company had a trading volume of 3,271,169 shares, compared to its average volume of 1,655,987. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $281.54. The stock has a market cap of $113.13 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 3.02 and a beta of 0.79. The stock's 50-day simple moving average is $263.99 and its 200 day simple moving average is $251.30.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Automatic Data Processing's revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, September 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 62.50%.

Automatic Data Processing Company 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.