Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by World Equity Group Inc.

World Equity Group Inc. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,820 shares of the business services provider’s stock after acquiring an additional 502 shares during the quarter. World Equity Group Inc.’s holdings in Automatic Data Processing were worth $1,057,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing in the second quarter valued at about $27,000. Keener Financial Planning LLC grew its position in shares of Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of Automatic Data Processing by 78.5% in the third 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. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the 1st quarter worth about $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on 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 $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,817 shares of company stock worth $15,999,208. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Up 1.0 %

Shares of ADP stock traded up $2.77 during trading on Monday, hitting $290.95. 95,136 shares of the company were exchanged, compared to its average volume of 1,630,141. The firm has a market capitalization of $118.66 billion, a price-to-earnings ratio of 30.76, a P/E/G ratio of 3.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $281.57 and its 200 day simple moving average is $260.13. Automatic Data Processing, Inc. has a twelve month low of $218.63 and a twelve month high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.97 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 59.77%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ADP. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing 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.