Automatic Data Processing, Inc. (NASDAQ:ADP) Position Increased by Harbour Investments Inc.

Harbour Investments Inc. lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,742 shares of the business services provider’s stock after acquiring an additional 36 shares during the period. Harbour Investments Inc.’s holdings in Automatic Data Processing were worth $482,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Entropy Technologies LP grew its holdings in shares of Automatic Data Processing by 896.3% during the third quarter. Entropy Technologies LP now owns 30,548 shares of the business services provider’s stock valued at $8,454,000 after buying an additional 27,482 shares in the last quarter. Fountainhead AM LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $291,000. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Automatic Data Processing by 4.8% during the third quarter. Nations Financial Group Inc. IA ADV now owns 23,903 shares of the business services provider’s stock worth $6,615,000 after purchasing an additional 1,101 shares during the period. Versor Investments LP grew its position in Automatic Data Processing by 36.0% during the third quarter. Versor Investments LP now owns 3,400 shares of the business services provider’s stock valued at $941,000 after purchasing an additional 900 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in Automatic Data Processing by 12.2% in the 3rd quarter. Addison Advisors LLC now owns 552 shares of the business services provider’s stock valued at $153,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their target price on shares of 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 analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 1.4 %

Automatic Data Processing stock opened at $297.64 on Friday. The business’s 50-day simple moving average is $287.23 and its 200-day simple moving average is $263.87. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.37. The firm has a market capitalization of $121.28 billion, a PE ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 59.77%.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock worth $27,691,708 over the last 90 days. Insiders own 0.21% of the company’s stock.

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.