Entropy Technologies LP Has $8.45 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Entropy Technologies LP lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 896.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,548 shares of the business services provider’s stock after acquiring an additional 27,482 shares during the period. Automatic Data Processing makes up approximately 0.9% of Entropy Technologies LP’s portfolio, making the stock its 7th biggest position. Entropy Technologies LP’s holdings in Automatic Data Processing were worth $8,454,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Atomi Financial Group Inc. increased its position in Automatic Data Processing by 17.0% in the 1st quarter. Atomi Financial Group Inc. now owns 1,826 shares of the business services provider’s stock valued at $456,000 after buying an additional 265 shares in the last quarter. NorthRock Partners LLC boosted its stake in Automatic Data Processing by 16.6% during the 1st quarter. NorthRock Partners LLC now owns 1,644 shares of the business services provider’s stock valued at $410,000 after purchasing an additional 234 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Automatic Data Processing during the 1st quarter valued at about $217,000. Avantax Advisory Services Inc. boosted its stake in Automatic Data Processing by 23.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,414 shares of the business services provider’s stock valued at $4,599,000 after purchasing an additional 3,465 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in Automatic Data Processing by 9.0% during the 1st quarter. Bleakley Financial Group LLC now owns 17,198 shares of the business services provider’s stock valued at $4,295,000 after purchasing an additional 1,427 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on ADP. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Up 0.7 %

Shares of ADP stock opened at $306.78 on Tuesday. The company’s fifty day simple moving average is $284.12 and its two-hundred day simple moving average is $262.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $226.09 and a 1 year high of $308.54. The stock has a market capitalization of $125.00 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 3.55 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm 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 dividend of $1.54 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s payout ratio is presently 59.77%.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,792 shares of company stock valued at $27,691,708. 0.21% of the stock is currently owned by company 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.