Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,984 shares of the business services provider’s stock after purchasing an additional 653 shares during the period. Strengthening Families & Communities LLC’s holdings in Automatic Data Processing were worth $2,763,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADP. Mendel Capital Management LLC lifted its position in Automatic Data Processing by 0.7% during the third quarter. Mendel Capital Management LLC now owns 6,739 shares of the business services provider’s stock worth $1,865,000 after buying an additional 46 shares during the period. Richard C. Young & CO. LTD. lifted its position in Automatic Data Processing by 0.3% during the third quarter. Richard C. Young & CO. LTD. now owns 74,255 shares of the business services provider’s stock worth $20,549,000 after buying an additional 258 shares during the period. Quest Partners LLC lifted its position in Automatic Data Processing by 2,248.7% during the third quarter. Quest Partners LLC now owns 3,711 shares of the business services provider’s stock worth $1,027,000 after buying an additional 3,553 shares during the period. MAI Capital Management lifted its position in Automatic Data Processing by 118.0% during the third quarter. MAI Capital Management now owns 36,818 shares of the business services provider’s stock worth $10,189,000 after buying an additional 19,926 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in Automatic Data Processing by 3.5% during the third quarter. Gilbert & Cook Inc. now owns 1,805 shares of the business services provider’s stock worth $499,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADP. Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Bank of America raised their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Two equities 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 stock. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $297.64 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The business has a 50-day moving average of $287.23 and a two-hundred day moving average of $264.14. The stock has a market capitalization of $121.28 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.46 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research 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 announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s payout ratio is presently 65.74%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Kwon sold 846 shares of the stock in a transaction dated 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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This represents a 7.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now 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 quarter, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by corporate insiders.

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.