Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Increased by BBR Partners LLC

BBR Partners LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 358.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,291 shares of the business services provider’s stock after purchasing an additional 4,920 shares during the quarter. BBR Partners LLC’s holdings in Automatic Data Processing were worth $1,741,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. CreativeOne Wealth LLC grew its stake in Automatic Data Processing by 23.8% in the third quarter. CreativeOne Wealth LLC now owns 6,976 shares of the business services provider’s stock valued at $1,930,000 after purchasing an additional 1,339 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Automatic Data Processing by 8.6% in the 3rd quarter. Townsquare Capital LLC now owns 55,611 shares of the business services provider’s stock valued at $15,389,000 after buying an additional 4,405 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new position in Automatic Data Processing in the third quarter worth approximately $995,000. Finally, Shum Financial Group Inc. bought a new position in Automatic Data Processing during the third quarter valued at approximately $276,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at approximately $11,440,548.48. This trade represents a 7.08 % 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, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,504 shares of company stock worth $20,298,056. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ADP. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Citigroup raised their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada boosted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $306.92 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.63. The company has a market cap of $125.06 billion, a P/E ratio of 32.76, a P/E/G ratio of 3.55 and a beta of 0.79. The business’s 50 day moving average is $291.26 and its two-hundred day moving average is $267.31. 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 announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $2.08 earnings per share. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

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

About Automatic Data Processing

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.