Lake Street Advisors Group LLC Acquires 472 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Lake Street Advisors Group LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% in the third quarter, HoldingsChannel.com reports. The fund owned 10,288 shares of the business services provider’s stock after acquiring an additional 472 shares during the period. Lake Street Advisors Group LLC’s holdings in Automatic Data Processing were worth $2,861,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the 2nd quarter worth about $27,000. Keener Financial Planning LLC lifted 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 valued at $28,000 after acquiring an additional 76 shares during the period. Hexagon Capital Partners LLC lifted its stake 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 valued at $32,000 after acquiring an additional 51 shares during the period. Crewe Advisors LLC bought a new position in Automatic Data Processing during the 1st quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC bought a new position in Automatic Data Processing during the 1st quarter valued at about $36,000. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. 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 can be accessed through the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on 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 completion of the sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade 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 valued at $15,999,208 in the last three months. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Up 0.1 %

ADP traded up $0.39 on Friday, hitting $289.82. The company had a trading volume of 147,411 shares, compared to its average volume of 1,619,037. The stock has a fifty day moving average price of $278.40 and a 200-day moving average price of $257.89. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $118.62 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 3.13 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADP shares. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup raised their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Bank of America raised their price target 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.