Strengthening Families & Communities LLC Buys 653 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Strengthening Families & Communities LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 9,984 shares of the business services provider’s stock after purchasing an additional 653 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Automatic Data Processing were worth $2,763,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the 2nd quarter valued at about $27,000. Hexagon Capital Partners LLC lifted its position in Automatic Data Processing by 78.5% during 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 stake in Automatic Data Processing during the third quarter worth approximately $35,000. Crewe Advisors LLC acquired a new stake in Automatic Data Processing during the first quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the first quarter worth approximately $36,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. Bank of America raised their target price 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. 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 report on Thursday, August 1st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm’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 sale, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 20.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,792 shares of company stock worth $27,691,708. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $297.64 on Monday. 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 stock has a market capitalization of $121.28 billion, a P/E ratio of 31.77, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79. The firm’s fifty day simple moving average is $287.23 and its two-hundred day simple moving average is $264.14. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Increases Dividend

The company 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 is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

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.