Childress Capital Advisors LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Childress Capital Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,500 shares of the business services provider’s stock after purchasing an additional 41 shares during the period. Childress Capital Advisors LLC’s holdings in Automatic Data Processing were worth $415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing during the second quarter worth $27,000. Keener Financial Planning LLC lifted its position in Automatic Data Processing by 230.3% during the first quarter. Keener Financial Planning LLC now owns 109 shares of the business services provider’s stock worth $28,000 after buying an additional 76 shares during the period. Hexagon Capital Partners LLC boosted its stake 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 worth $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at about $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Automatic Data Processing during the 1st quarter valued at about $36,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.5 %

Automatic Data Processing stock opened at $287.95 on Wednesday. The company has a 50 day moving average price of $280.30 and a 200 day moving average price of $259.15. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $294.18. The firm has a market capitalization of $117.86 billion, a price-to-earnings ratio of 32.14, 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, beating 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 the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts forecast that Automatic Data Processing, Inc. will post 10.04 EPS for the current 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 issued a $1.40 dividend. The ex-dividend date was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ADP. Stifel Nicolaus raised their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, August 1st. Barclays boosted their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $277.64.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the transaction, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares of the company’s stock, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 completion of the transaction, the chief executive officer now directly owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 over the last three months. 0.26% of the stock is owned by corporate insiders.

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.