Donaldson Capital Management LLC Acquires 226 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Donaldson Capital Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,303 shares of the business services provider’s stock after buying an additional 226 shares during the quarter. Donaldson Capital Management LLC’s holdings in Automatic Data Processing were worth $13,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. BlueSpruce Investments LP acquired a new position in shares of Automatic Data Processing during the first quarter valued at about $365,757,000. International Assets Investment Management LLC increased its position in Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after buying an additional 552,096 shares during the period. Mackenzie Financial Corp boosted its holdings in Automatic Data Processing by 242.4% in the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after acquiring an additional 456,027 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after acquiring an additional 435,093 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday. Barclays raised their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. UBS Group upped their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their price target 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 given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $285.09.

Automatic Data Processing Stock Performance

Shares of ADP opened at $288.18 on Monday. The stock has a 50 day moving average of $281.57 and a 200 day moving average of $260.13. The company has a market capitalization of $117.53 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $211.52 and a 12 month high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.08 EPS. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.97 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s dividend payout ratio is 59.77%.

Insiders Place Their Bets

In related news, VP David Kwon sold 846 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This 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 this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This 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 available through this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now directly owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.21% 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.