Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,210 shares of the business services provider’s stock after acquiring an additional 249 shares during the quarter. Savvy Advisors Inc.’s holdings in Automatic Data Processing were worth $612,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of Automatic Data Processing by 5.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 8,618 shares of the business services provider’s stock valued at $2,385,000 after acquiring an additional 465 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Automatic Data Processing by 1.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 999,237 shares of the business services provider’s stock worth $276,519,000 after purchasing an additional 13,545 shares during the last quarter. Harbour Investments Inc. boosted its position in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares in the last quarter. Entropy Technologies LP grew its holdings in Automatic Data Processing by 896.3% in the third quarter. Entropy Technologies LP now owns 30,548 shares of the business services provider’s stock valued at $8,454,000 after purchasing an additional 27,482 shares during the last quarter. Finally, Fountainhead AM LLC acquired a new stake in Automatic Data Processing in the third quarter valued at $291,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the transaction, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction on Monday, August 26th. The stock was 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 of the company’s stock, valued at $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Up 0.4 %

ADP opened at $307.91 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $226.09 and a 12 month high of $309.21. The business has a 50-day moving average of $284.74 and a two-hundred day moving average of $262.46. 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 stock has a market capitalization of $125.46 billion, a price-to-earnings ratio of 32.86, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping 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 net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ADP shares. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada lifted 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. Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing 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.