Koshinski Asset Management Inc. Acquires 171 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Koshinski Asset Management Inc. raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,927 shares of the business services provider’s stock after purchasing an additional 171 shares during the period. Koshinski Asset Management Inc.’s holdings in Automatic Data Processing were worth $2,028,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Hexagon Capital Partners LLC grew 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 bought a new position in shares of Automatic Data Processing during the third quarter valued at $35,000. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Automatic Data Processing by 43.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 169 shares of the business services provider’s stock worth $40,000 after purchasing an additional 51 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Mizuho boosted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,129 shares of company stock worth $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $296.18 on Tuesday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The business has a fifty day moving average of $297.90 and a 200 day moving average of $280.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the company posted $2.08 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is presently 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.