1,050 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Fountainhead AM LLC

Fountainhead AM LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,050 shares of the business services provider’s stock, valued at approximately $291,000.

Several other hedge funds have also made changes to their positions in the business. Atomi Financial Group Inc. raised its holdings in Automatic Data Processing by 17.0% during the first quarter. Atomi Financial Group Inc. now owns 1,826 shares of the business services provider’s stock worth $456,000 after purchasing an additional 265 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of Automatic Data Processing by 16.6% in the 1st quarter. NorthRock Partners LLC now owns 1,644 shares of the business services provider’s stock valued at $410,000 after buying an additional 234 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Automatic Data Processing in the first quarter valued at approximately $217,000. Avantax Advisory Services Inc. grew its holdings in Automatic Data Processing by 23.2% during the first quarter. Avantax Advisory Services Inc. now owns 18,414 shares of the business services provider’s stock worth $4,599,000 after acquiring an additional 3,465 shares during the period. Finally, Bleakley Financial Group LLC raised its position in Automatic Data Processing by 9.0% in the first quarter. Bleakley Financial Group LLC now owns 17,198 shares of the business services provider’s stock worth $4,295,000 after acquiring an additional 1,427 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ADP shares. Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on 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 sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $306.78 on Tuesday. The stock has a fifty day moving average price of $284.12 and a 200 day moving average price of $262.03. Automatic Data Processing, Inc. has a 52 week low of $226.09 and a 52 week high of $308.54. The firm has a market capitalization of $125.00 billion, a P/E ratio of 32.74, a PEG ratio of 3.55 and a beta of 0.79. The company has a current ratio of 1.01, a quick 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. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Automatic Data Processing Company 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.