1,699 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by RIA Advisory Group LLC

RIA Advisory Group LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,699 shares of the business services provider’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. First Foundation Advisors lifted its stake in shares of Automatic Data Processing by 14.8% in the 1st quarter. First Foundation Advisors now owns 1,536 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 198 shares during the period. Nicolet Advisory Services LLC increased its stake in Automatic Data Processing by 9.3% in the 1st quarter. Nicolet Advisory Services LLC now owns 1,956 shares of the business services provider’s stock valued at $489,000 after buying an additional 166 shares during the last quarter. TIAA Trust National Association grew its holdings in shares of Automatic Data Processing by 3.9% in the 1st quarter. TIAA Trust National Association now owns 39,658 shares of the business services provider’s stock valued at $9,904,000 after acquiring an additional 1,500 shares in the last quarter. Rodgers & Associates LTD acquired a new stake in shares of Automatic Data Processing in the first quarter valued at about $200,000. Finally, Acadian Asset Management LLC raised its holdings in Automatic Data Processing by 48.7% during the first quarter. Acadian Asset Management LLC now owns 307,433 shares of the business services provider’s stock worth $76,757,000 after acquiring an additional 100,739 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.4 %

Shares of NASDAQ ADP opened at $297.64 on Friday. The company has a market cap of $121.28 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 3.58 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $227.12 and a 12 month high of $309.37. The stock has a 50-day moving average price of $287.23 and a two-hundred day moving average price of $263.87.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 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 the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, 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 completion of the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays raised their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Stifel Nicolaus upped their target price 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. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $289.91.

About Automatic Data Processing

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.