BBR Partners LLC Has $1.74 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

BBR Partners LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 358.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,291 shares of the business services provider’s stock after purchasing an additional 4,920 shares during the quarter. BBR Partners LLC’s holdings in Automatic Data Processing were worth $1,741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at $27,000. Hexagon Capital Partners LLC raised its stake in shares of Automatic Data Processing by 78.5% in the third 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 shares of Automatic Data Processing during the third quarter worth approximately $35,000. Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing during the first quarter valued at approximately $36,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the second quarter valued at approximately $40,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s 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 sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,504 shares of company stock worth $20,298,056. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Trading Down 0.3 %

Shares of NASDAQ ADP opened at $306.92 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $227.12 and a twelve month high of $309.63. The stock has a market cap of $125.06 billion, a price-to-earnings ratio of 32.76, a P/E/G ratio of 3.55 and a beta of 0.79. 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 company’s fifty day moving average is $291.26 and its 200-day moving average is $267.31.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the previous year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a $1.54 dividend. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is currently 59.77%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADP shares. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. UBS Group boosted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their target price on shares of 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, 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 report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.91.

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.