Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 317.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,059 shares of the business services provider’s stock after purchasing an additional 2,326 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Automatic Data Processing were worth $846,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Nvest Financial LLC boosted its stake in shares of Automatic Data Processing by 51.5% in the third quarter. Nvest Financial LLC now owns 3,137 shares of the business services provider’s stock valued at $868,000 after purchasing an additional 1,066 shares during the period. Fermata Advisors LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth $210,000. New England Professional Planning Group Inc. purchased a new stake in shares of Automatic Data Processing during the third quarter worth $231,000. San Luis Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $233,000. Finally, Albion Financial Group UT boosted its holdings in Automatic Data Processing by 25.0% in the third quarter. Albion Financial Group UT now owns 2,500 shares of the business services provider’s stock valued at $692,000 after purchasing an additional 500 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.5 %

NASDAQ:ADP opened at $288.36 on Friday. The company has a market capitalization of $118.02 billion, a PE ratio of 32.18, a P/E/G ratio of 3.13 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $288.50. The stock’s 50 day moving average price is $273.55 and its 200 day moving average price is $255.40. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The business had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the firm posted $1.89 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.94%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADP shares. Jefferies Financial Group upped their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus increased their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, August 1st. Finally, Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $267.83.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock valued at $15,999,208 over the last quarter. 0.26% of the stock is currently 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.