Dynamic Technology Lab Private Ltd Purchases 540 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Dynamic Technology Lab Private Ltd grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,728 shares of the business services provider’s stock after acquiring an additional 540 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Automatic Data Processing were worth $1,585,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its holdings in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after buying an additional 264,466 shares during the last quarter. Plato Investment Management Ltd increased its stake in Automatic Data Processing by 23.8% during the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new stake in Automatic Data Processing during the third quarter valued at approximately $209,000. ORG Partners LLC lifted its stake in shares of Automatic Data Processing by 2,917.1% in the 2nd quarter. ORG Partners LLC now owns 4,224 shares of the business services provider’s stock valued at $997,000 after purchasing an additional 4,084 shares during the last quarter. Finally, RIA Advisory Group LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at approximately $470,000. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 17.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,504 shares of company stock valued at $20,298,056 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $304.67 on Tuesday. The company has a market capitalization of $124.14 billion, a price-to-earnings ratio of 32.51, 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, Inc. has a 12-month low of $227.12 and a 12-month high of $309.37. The business’s fifty day simple moving average is $290.07 and its 200-day simple moving average is $266.60.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm 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%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.08 earnings per share. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.02%. 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 59.77%.

Wall Street Analyst Weigh In

Several research firms have commented on ADP. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays upped 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. Citigroup boosted their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Bank of America increased their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group boosted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.

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.