Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Lane & Associates LLC

Lane & Associates LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 50.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,815 shares of the business services provider’s stock after purchasing an additional 941 shares during the quarter. Lane & Associates LLC’s holdings in Automatic Data Processing were worth $779,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Accredited Investors Inc. lifted its holdings in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. BlueSpruce Investments LP acquired a new position in Automatic Data Processing in the first quarter valued at approximately $365,757,000. International Assets Investment Management LLC lifted its holdings in Automatic Data Processing by 28,478.6% in the third 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. Jacobs Levy Equity Management Inc. lifted its holdings in Automatic Data Processing by 238.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after acquiring an additional 552,096 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. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.2 %

Shares of ADP opened at $305.15 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37. The stock has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a PEG ratio of 3.54 and a beta of 0.79. The stock has a 50 day moving average price of $289.55 and a 200 day moving average price of $266.02.

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. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 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 given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. 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. Automatic Data Processing’s payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Bank of America boosted 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. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.96, for a total value 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 $23,959,908.96. This represents a 23.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 approximately $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,946 shares of company stock worth $27,462,781. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Company 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.