Automatic Data Processing, Inc. (NASDAQ:ADP) is Roffman Miller Associates Inc. PA’s 8th Largest Position

Roffman Miller Associates Inc. PA grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 179,703 shares of the business services provider’s stock after purchasing an additional 182 shares during the quarter. Automatic Data Processing comprises approximately 3.0% of Roffman Miller Associates Inc. PA’s investment portfolio, making the stock its 8th biggest holding. Roffman Miller Associates Inc. PA’s holdings in Automatic Data Processing were worth $49,729,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Accredited Investors Inc. raised its holdings in shares of Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of 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 acquiring an additional 1,190,407 shares during the period. Holocene Advisors LP purchased a new position in Automatic Data Processing in the 3rd quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares during the period. Finally, Mackenzie Financial Corp lifted 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 valued at $153,749,000 after acquiring an additional 456,027 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $304.56 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.63. The firm has a market capitalization of $124.10 billion, a PE ratio of 32.50, a P/E/G ratio of 3.53 and a beta of 0.79. The business’s 50 day moving average price is $295.31 and its 200-day moving average price is $270.13.

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, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.08 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ADP shares. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by 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.