Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Keel Point LLC

Keel Point LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.0% during the fourth quarter, HoldingsChannel reports. The firm owned 1,562 shares of the business services provider’s stock after buying an additional 142 shares during the quarter. Keel Point LLC’s holdings in Automatic Data Processing were worth $364,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADP. OFI Invest Asset Management acquired a new position in Automatic Data Processing in the third quarter valued at approximately $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter valued at $30,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing during the 1st quarter worth $31,000. Finally, Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at $35,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $244.21 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The stock has a market cap of $100.32 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The firm’s fifty day simple moving average is $247.69 and its 200-day simple moving average is $239.16.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock valued at $3,741,859. Company insiders own 0.26% of the company’s stock.

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.