Atria Investments Inc Boosts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Atria Investments Inc boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,540 shares of the business services provider’s stock after buying an additional 1,059 shares during the period. Atria Investments Inc’s holdings in Automatic Data Processing were worth $17,583,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its holdings in 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 valued at $32,000 after acquiring an additional 51 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the third quarter valued at approximately $35,000. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the first quarter worth $33,000. Finally, Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing during the first quarter worth $36,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.0 %

Shares of Automatic Data Processing stock opened at $304.73 on Friday. The company has a fifty day moving average price of $284.12 and a 200 day moving average price of $261.82. 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, Inc. has a twelve month low of $225.38 and a twelve month high of $306.92. The stock has a market cap of $124.17 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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. The company had revenue of $4.83 billion during 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 firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is 59.77%.

Wall Street Analyst Weigh In

A number of research firms have commented on ADP. Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other news, 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 value of $228,927.60. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Automatic Data Processing 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 value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by corporate insiders.

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.