Snider Financial Group Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Snider Financial Group bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 800 shares of the business services provider’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of 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 valued at $32,000 after acquiring an additional 51 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter worth $33,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $35,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing in the first quarter valued at about $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $9,781,200. The trade was 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 at the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing 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 $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. 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. UBS Group upped their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America raised their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Barclays increased their price target 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 investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Down 0.1 %

ADP stock opened at $307.50 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $286.03 and its 200 day simple moving average is $263.23. The stock has a market cap of $125.29 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate 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 revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is 65.74%.

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.