Joel Isaacson & Co. LLC Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Joel Isaacson & Co. LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,207 shares of the business services provider’s stock after purchasing an additional 186 shares during the period. Joel Isaacson & Co. LLC’s holdings in Automatic Data Processing were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlueSpruce Investments LP purchased a new position in Automatic Data Processing during the 1st quarter valued at about $365,757,000. International Assets Investment Management LLC increased its stake in shares of Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Automatic Data Processing by 27.7% during the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after purchasing an additional 552,096 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday. 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. Stifel Nicolaus upped their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $275.33.

Automatic Data Processing Stock Performance

Shares of ADP opened at $287.96 on Friday. The firm has a market capitalization of $117.86 billion, a P/E ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18. The business has a fifty day moving average of $278.92 and a 200 day moving average of $258.11.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating the consensus estimate 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 prior year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a yield of 1.94%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares in the company, valued at $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is owned by company insiders.

About Automatic Data Processing

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.