Princeton Global Asset Management LLC Raises Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Princeton Global Asset Management LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 174.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 724 shares of the business services provider’s stock after buying an additional 460 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Automatic Data Processing were worth $200,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing in the second quarter valued at approximately $27,000. Keener Financial Planning LLC boosted its holdings in Automatic Data Processing by 230.3% in the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC grew its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter worth about $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing in the 1st quarter valued at about $36,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research 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 stock a “hold” rating in a research report on Tuesday, October 22nd. Barclays increased their target price on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $285.09.

Automatic Data Processing Trading Down 0.4 %

NASDAQ:ADP opened at $288.18 on Monday. The company has a market capitalization of $117.53 billion, a PE ratio of 30.76, a P/E/G ratio of 3.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $211.52 and a 52-week high of $294.18. The stock’s 50 day moving average price is $281.57 and its 200 day moving average price is $260.13. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.97 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Michael A. Bonarti sold 26,442 shares of the 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 completion of the transaction, the vice president now directly owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 in the last three months. Insiders own 0.21% of the company’s stock.

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.