Klingman & Associates LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 63.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,816 shares of the business services provider's stock after purchasing an additional 3,033 shares during the period. Klingman & Associates LLC's holdings in Automatic Data Processing were worth $2,163,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing during the second quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its stake in shares of 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. Crewe Advisors LLC acquired a new position in Automatic Data Processing during the 1st quarter worth about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing in the first quarter valued at about $36,000. Institutional investors own 80.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ADP. Citigroup raised 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. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a "hold" rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Finally, Bank of America raised their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a "neutral" rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $289.91.

Get Our Latest Report on Automatic Data Processing

Insider Activity at Automatic Data Processing

In other 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 completion of the sale, the director now owns 36,741 shares of the company's stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP David Kwon sold 846 shares of the 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 directly owns 10,410 shares of the company's stock, valued at $2,816,946. This 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. Also, Director Carlos A. Rodriguez sold 9,203 shares of the firm's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following 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 disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock valued at $27,691,708 over the last 90 days. Corporate insiders own 0.21% of the company's stock.

Shares of NASDAQ ADP opened at $304.73 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company's fifty day simple moving average is $284.12 and its 200 day simple moving average is $261.82. The firm has a market cap of $124.17 billion, a PE ratio of 32.52, a P/E/G ratio of 3.37 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $225.38 and a 12-month high of $306.92.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) 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 business 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. As a group, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be paid a $1.54 dividend. This is a boost from Automatic Data Processing's previous quarterly dividend of $1.40. 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 2.02%. Automatic Data Processing's payout ratio is presently 59.77%.

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.

See Also

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