Cornerstone Planning Group LLC Grows Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cornerstone Planning Group LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 1,605.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 324 shares of the business services provider’s stock after acquiring an additional 305 shares during the quarter. Cornerstone Planning Group LLC’s holdings in Automatic Data Processing were worth $78,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Coppell Advisory Solutions LLC purchased a new stake in Automatic Data Processing during the 2nd quarter worth approximately $30,000. Coppell Advisory Solutions Corp. purchased a new stake in Automatic Data Processing during the 4th quarter worth approximately $33,000. Strategic Investment Solutions Inc. IL purchased a new stake in Automatic Data Processing during the 1st quarter worth approximately $31,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $34,000. Institutional investors own 79.37% of the company’s stock.

Automatic Data Processing Trading Down 0.2 %

Shares of ADP stock opened at $248.28 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $101.99 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.34 and a beta of 0.80. The company has a 50-day moving average of $235.24 and a two-hundred day moving average of $239.34. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Activity

In related news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John Ayala sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the completion of the sale, the vice president now directly owns 19,183 shares in the company, valued at approximately $4,510,498.79. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Mizuho lowered their price target on shares of Automatic Data Processing from $285.00 to $255.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Barclays lowered their price target on shares of Automatic Data Processing from $285.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 26th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $250.00 price target on shares of Automatic Data Processing in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $253.17.

Get Our Latest Stock Analysis on Automatic Data Processing

About Automatic Data Processing

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPFree Report).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.