Keel Point LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Keel Point LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,562 shares of the business services provider’s stock after purchasing an additional 142 shares during the period. Keel Point LLC’s holdings in Automatic Data Processing were worth $364,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ADP. Sei Investments Co. boosted its stake in shares of Automatic Data Processing by 19.3% in the 1st quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock worth $30,532,000 after buying an additional 21,671 shares during the last quarter. Dakota Wealth Management purchased a new stake in shares of Automatic Data Processing during the 1st quarter valued at about $571,000. Zions Bancorporation N.A. lifted its stake in shares of Automatic Data Processing by 12.4% in the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock worth $103,000 after purchasing an additional 50 shares during the period. Covestor Ltd boosted its holdings in shares of Automatic Data Processing by 82.8% in the first quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock worth $145,000 after buying an additional 288 shares during the last quarter. Finally, Merit Financial Group LLC grew its position in Automatic Data Processing by 4.4% during the first quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock valued at $660,000 after buying an additional 121 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last three months. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Trading Up 0.1 %

Shares of Automatic Data Processing stock opened at $244.21 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market cap of $100.32 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The business has a 50-day moving average price of $247.69 and a 200-day moving average price of $239.16.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business posted $1.96 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s payout ratio is currently 65.19%.

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.