Kerusso Capital Management LLC Purchases 316 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Kerusso Capital Management LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% in the third quarter, Holdings Channel reports. The fund owned 5,204 shares of the business services provider’s stock after buying an additional 316 shares during the quarter. Kerusso Capital Management LLC’s holdings in Automatic Data Processing were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. TD Asset Management Inc raised its position in shares of Automatic Data Processing by 14.2% during the first quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after buying an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the last quarter. Toronto Dominion Bank raised its position in Automatic Data Processing by 1.7% in the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock worth $61,804,000 after purchasing an additional 4,253 shares in the last quarter. Plato Investment Management Ltd raised its position in Automatic Data Processing by 23.8% in the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after purchasing an additional 5,114 shares in the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing in the third quarter worth about $209,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

ADP opened at $304.73 on Friday. Automatic Data Processing, Inc. has a one year low of $225.38 and a one year high of $306.92. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $284.12 and its 200-day simple moving average is $261.82. The stock has a market capitalization of $124.17 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the firm earned $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADP shares. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America increased their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the firm’s 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 transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction on 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by 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.