Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Dash Acquisitions Inc.

Dash Acquisitions Inc. boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 52,329 shares of the business services provider’s stock after acquiring an additional 2,781 shares during the quarter. Automatic Data Processing comprises 3.6% of Dash Acquisitions Inc.’s holdings, making the stock its 13th biggest position. Dash Acquisitions Inc.’s holdings in Automatic Data Processing were worth $15,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. purchased a new position in shares of Automatic Data Processing during the second quarter worth approximately $27,000. Keener Financial Planning LLC boosted its stake in Automatic Data Processing by 230.3% during the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after purchasing an additional 76 shares during the period. Hexagon Capital Partners LLC grew its position 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 during the last quarter. Crewe Advisors LLC acquired a new position in Automatic Data Processing in the first quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada raised 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. Bank of America increased their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays boosted 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. UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $285.09.

Automatic Data Processing Stock Performance

Shares of ADP opened at $288.18 on Friday. 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, Inc. has a 52-week low of $211.52 and a 52-week high of $294.18. The company has a 50-day simple moving average of $281.57 and a 200-day simple moving average of $259.90. The company has a market capitalization of $117.53 billion, a PE ratio of 30.76, a P/E/G ratio of 3.21 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. 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 analysts’ expectations of $4.77 billion. During the same period last year, the company posted $2.08 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.98 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,817 shares of company stock worth $15,999,208 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

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.