Automatic Data Processing, Inc. (NASDAQ:ADP) Position Raised by Americana Partners LLC

Americana Partners LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,314 shares of the business services provider’s stock after purchasing an additional 79 shares during the quarter. Americana Partners LLC’s holdings in Automatic Data Processing were worth $5,898,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC grew its holdings in shares of Automatic Data Processing by 10.0% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 7,997 shares of the business services provider’s stock worth $1,997,000 after acquiring an additional 725 shares during the last quarter. Norden Group LLC boosted its holdings in shares of Automatic Data Processing by 19.7% in the first quarter. Norden Group LLC now owns 4,393 shares of the business services provider’s stock worth $1,097,000 after buying an additional 723 shares during the period. Blue Trust Inc. increased its position in shares of Automatic Data Processing by 2.6% in the first quarter. Blue Trust Inc. now owns 3,813 shares of the business services provider’s stock worth $952,000 after acquiring an additional 98 shares in the last quarter. Janney Capital Management LLC raised its holdings in shares of Automatic Data Processing by 615.4% during the first quarter. Janney Capital Management LLC now owns 10,223 shares of the business services provider’s stock valued at $2,553,000 after acquiring an additional 8,794 shares during the period. Finally, Resonant Capital Advisors LLC boosted its stake in Automatic Data Processing by 1.0% in the 1st quarter. Resonant Capital Advisors LLC now owns 13,114 shares of the business services provider’s stock worth $3,291,000 after purchasing an additional 124 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays lifted their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Bank of America increased their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two investment 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 company presently has an average rating of “Hold” and a consensus price target of $282.00.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Michael A. Bonarti sold 26,442 shares of the 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 sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded down $0.38 on Friday, hitting $288.86. 309,615 shares of the stock traded hands, compared to its average volume of 1,629,234. Automatic Data Processing, Inc. has a 52 week low of $211.52 and a 52 week high of $294.18. The firm has a market capitalization of $117.80 billion, a PE ratio of 30.79, a P/E/G ratio of 3.21 and a beta of 0.79. The business has a fifty day moving average price of $281.20 and a two-hundred day moving average price of $259.59. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.20 by $0.13. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.98 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

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.