4,500 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 4,500 shares of the business services provider’s stock, valued at approximately $1,245,000.

Several other large investors have also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Automatic Data Processing in the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC grew its holdings in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the 3rd quarter valued at $35,000. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of several analyst reports. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada upped their price target 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. Finally, Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

ADP opened at $307.91 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $125.46 billion, a price-to-earnings ratio of 32.86, a PEG ratio of 3.55 and a beta of 0.79. The stock’s 50-day moving average price is $284.74 and its 200 day moving average price is $262.46. Automatic Data Processing, Inc. has a 12-month low of $226.09 and a 12-month high of $309.21.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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 $2.21 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 return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 EPS. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business 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 $1.54 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated 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 transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were 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 in the company, valued at approximately $9,781,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,792 shares of company stock valued at $27,691,708 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.