Northcape Wealth Management LLC Has $1.77 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Northcape Wealth Management LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the third quarter, Holdings Channel.com reports. The fund owned 6,399 shares of the business services provider’s stock after purchasing an additional 72 shares during the quarter. Northcape Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,771,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. First Long Island Investors LLC increased its stake in Automatic Data Processing by 1.5% during the 3rd quarter. First Long Island Investors LLC now owns 202,446 shares of the business services provider’s stock worth $56,023,000 after acquiring an additional 3,028 shares during the period. Archer Investment Corp grew its holdings in shares of Automatic Data Processing by 5.4% during the 3rd quarter. Archer Investment Corp now owns 973 shares of the business services provider’s stock worth $269,000 after purchasing an additional 50 shares in the last quarter. Valley Wealth Managers Inc. increased its position in shares of Automatic Data Processing by 22.5% in the third quarter. Valley Wealth Managers Inc. now owns 1,563 shares of the business services provider’s stock worth $433,000 after purchasing an additional 287 shares during the period. Empirical Finance LLC raised its stake in Automatic Data Processing by 1.9% in the third quarter. Empirical Finance LLC now owns 14,335 shares of the business services provider’s stock valued at $3,967,000 after purchasing an additional 274 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in Automatic Data Processing by 16.5% in the third quarter. CIBC Asset Management Inc now owns 153,147 shares of the business services provider’s stock valued at $42,380,000 after purchasing an additional 21,663 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 23.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $297.64 on Friday. The company has a market capitalization of $121.28 billion, a PE ratio of 31.77, a P/E/G ratio of 3.58 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average price of $287.23 and a two-hundred day moving average price of $263.87. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping 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 the consensus estimate of $4.77 billion. During the same period last year, the company earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Bank of America lifted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $289.91.

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.