806 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Rodgers & Associates LTD

Rodgers & Associates LTD acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 806 shares of the business services provider’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlueSpruce Investments LP acquired a new stake in Automatic Data Processing in the first quarter valued at $365,757,000. Nordea Investment Management AB grew its holdings in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after purchasing an additional 589,831 shares during the last quarter. Jacobs Levy Equity Management Inc. grew 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 purchasing an additional 552,096 shares during the last quarter. Mackenzie Financial Corp grew 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 purchasing an additional 456,027 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 12.0% in the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after purchasing an additional 435,093 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

NASDAQ ADP traded down $0.18 during trading hours on Tuesday, hitting $290.73. 173,694 shares of the company’s stock were exchanged, compared to its average volume of 1,626,095. The business’s 50 day moving average is $277.27 and its 200-day moving average is $257.33. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $294.18. The firm has a market capitalization of $118.99 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders 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 yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated 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 in the company, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP David Kwon sold 846 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock worth $15,999,208 over the last three months. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Stifel Nicolaus upped their price objective on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $275.33.

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.