Overbrook Management Corp Has $1.54 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Overbrook Management Corp lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 5,555 shares of the business services provider’s stock after selling 658 shares during the period. Overbrook Management Corp’s holdings in Automatic Data Processing were worth $1,537,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing during the third quarter valued at about $35,000. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing during the first quarter valued at about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other 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 completion of the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 7.52 % 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. Also, VP Sreenivasa Kutam sold 38,975 shares of the 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 sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,792 shares of company stock worth $27,691,708 over the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Jefferies Financial Group upped their price objective 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. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. 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 company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.4 %

ADP stock opened at $298.59 on Thursday. 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 company’s 50 day moving average is $288.47 and its 200 day moving average is $265.16. The stock has a market cap of $121.66 billion, a price-to-earnings ratio of 31.87, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS 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 given a dividend of $1.54 per share. 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 2.06%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.