Curi RMB Capital LLC Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Curi RMB Capital LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,669 shares of the business services provider’s stock after purchasing an additional 684 shares during the quarter. Curi RMB Capital LLC’s holdings in Automatic Data Processing were worth $2,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Planning Capital Management Corp boosted its holdings in Automatic Data Processing by 96.3% in the third quarter. Planning Capital Management Corp now owns 3,788 shares of the business services provider’s stock valued at $1,048,000 after purchasing an additional 1,858 shares in the last quarter. Zions Bancorporation N.A. lifted its holdings in shares of Automatic Data Processing by 2.9% during the third quarter. Zions Bancorporation N.A. now owns 1,996 shares of the business services provider’s stock worth $552,000 after purchasing an additional 57 shares during the period. ROI Financial Advisors LLC lifted its holdings in shares of Automatic Data Processing by 12.7% during the third quarter. ROI Financial Advisors LLC now owns 5,726 shares of the business services provider’s stock worth $1,585,000 after purchasing an additional 645 shares during the period. Plato Investment Management Ltd lifted its holdings in shares of Automatic Data Processing by 1.4% during the third quarter. Plato Investment Management Ltd now owns 26,995 shares of the business services provider’s stock worth $7,463,000 after purchasing an additional 385 shares during the period. Finally, Cable Hill Partners LLC lifted its holdings in shares of Automatic Data Processing by 11.8% during the third quarter. Cable Hill Partners LLC now owns 1,233 shares of the business services provider’s stock worth $343,000 after purchasing an additional 130 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 1.4 %

Shares of ADP stock opened at $297.64 on Friday. The business has a fifty day simple moving average of $286.67 and a 200-day simple moving average of $263.50. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The stock has a market cap of $121.28 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.58 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share 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 firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s payout ratio is 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock worth $27,691,708 in the last 90 days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada increased their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Two 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $289.91.

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.