Cullinan Associates Inc. Raises Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cullinan Associates Inc. grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,900 shares of the business services provider’s stock after buying an additional 100 shares during the quarter. Cullinan Associates Inc.’s holdings in Automatic Data Processing were worth $3,169,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the 2nd quarter worth $27,000. Keener Financial Planning LLC boosted its stake in shares of Automatic Data Processing by 230.3% in the 1st quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock valued at $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new position in Automatic Data Processing in the first quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock traded up $0.68 on Friday, hitting $290.11. The company’s stock had a trading volume of 66,664 shares, compared to its average volume of 1,618,647. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $118.74 billion, a price-to-earnings ratio of 32.30, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The firm has a 50 day moving average of $278.40 and a two-hundred day moving average of $257.89.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing, Inc. will post 10.04 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity

In related news, VP Don Mcguire sold 3,179 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Don Mcguire sold 3,179 shares of the 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 $11,440,548.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Stifel Nicolaus boosted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $275.33.

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.