Kerusso Capital Management LLC Invests $1.17 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kerusso Capital Management LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 4,888 shares of the business services provider’s stock, valued at approximately $1,167,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. Keener Financial Planning LLC raised its stake in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after acquiring an additional 76 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the 1st quarter valued at $33,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth about $36,000. New Millennium Group LLC acquired a new stake in shares of Automatic Data Processing during the 2nd quarter worth about $40,000. Finally, Pineridge Advisors LLC bought a new position in Automatic Data Processing during the 4th quarter valued at about $39,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.2 %

Shares of NASDAQ ADP opened at $269.56 on Friday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $278.24. The firm’s 50-day moving average is $256.39 and its 200-day moving average is $249.71. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $110.33 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.00 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The firm 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 business earned $1.89 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $1.40 dividend. The ex-dividend date is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus increased their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Bank of America increased their target price on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $265.36.

Insider Buying and Selling

In other news, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing 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 in the company, valued at $23,959,908.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,614 shares of company stock valued at $13,519,460. 0.26% of the stock is owned by company insiders.

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.