Swedbank AB Purchases 85 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Swedbank AB increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 234,936 shares of the business services provider’s stock after acquiring an additional 85 shares during the period. Swedbank AB’s holdings in Automatic Data Processing were worth $65,014,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing in the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC grew its holdings 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 worth $32,000 after acquiring an additional 51 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $35,000. Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the first quarter valued at $36,000. Finally, New Millennium Group LLC acquired a new position in shares of Automatic Data Processing during the second quarter worth $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Citigroup upped 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 note on Wednesday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP opened at $305.15 on Monday. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37. The company has a market cap of $124.34 billion, a PE ratio of 32.57, a P/E/G ratio of 3.54 and a beta of 0.79. The stock has a 50-day moving average of $289.55 and a 200-day moving average of $266.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Insider Transactions at Automatic Data Processing

In related news, VP Don Mcguire sold 3,179 shares of the firm’s 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 transaction, the vice president now directly owns 41,696 shares of the company’s stock, valued at $11,440,548.48. This trade represents a 7.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’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 transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,504 shares of company stock valued at $20,298,056 over the last three months. 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.