Automatic Data Processing, Inc. $ADP Shares Bought by PBU The Pension Fund of Early Childhood & Youth Educators

PBU The Pension Fund of Early Childhood & Youth Educators grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,281 shares of the business services provider’s stock after purchasing an additional 4,957 shares during the period. PBU The Pension Fund of Early Childhood & Youth Educators’ holdings in Automatic Data Processing were worth $21,491,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Three Bridge Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $29,000. CFM Wealth Partners LLC lifted its position in shares of Automatic Data Processing by 13.7% in the 3rd quarter. CFM Wealth Partners LLC now owns 1,665 shares of the business services provider’s stock valued at $430,000 after acquiring an additional 200 shares in the last quarter. Bourne Lent Asset Management Inc. purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $209,000. Maryland State Retirement & Pension System lifted its position in shares of Automatic Data Processing by 14.8% in the 3rd quarter. Maryland State Retirement & Pension System now owns 24,769 shares of the business services provider’s stock valued at $6,392,000 after acquiring an additional 3,199 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Automatic Data Processing by 24.3% in the 3rd quarter. Ritholtz Wealth Management now owns 16,323 shares of the business services provider’s stock worth $4,212,000 after purchasing an additional 3,190 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.5%

ADP stock opened at $307.92 on Friday. The company has a 50 day moving average of $280.85 and a two-hundred day moving average of $242.86. The company has a market cap of $121.55 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 2.75 and a beta of 0.77. Automatic Data Processing, Inc. has a 12-month low of $188.16 and a 12-month high of $311.89. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.98.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 28th. The business services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Automatic Data Processing had a net margin of 20.33% and a return on equity of 77.01%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the company posted $2.49 EPS. Automatic Data Processing’s revenue was up 6.1% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 12.38 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 11th will be given a dividend of $1.90 per share. The ex-dividend date of this dividend is Friday, December 11th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.70. This represents a $7.60 dividend on an annualized basis and a yield of 2.5%. Automatic Data Processing’s payout ratio is 60.28%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating and set a $290.00 price objective on shares of Automatic Data Processing in a research report on Thursday, October 29th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $225.00 to $250.00 and gave the company an “underperform” rating in a research note on Wednesday, October 28th. Weiss Ratings upgraded Automatic Data Processing from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. UBS Group raised their target price on Automatic Data Processing from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, Cantor Fitzgerald raised their target price on Automatic Data Processing from $310.00 to $336.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $285.00.

Insider Activity

In related news, VP Michael A. Bonarti sold 6,812 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $310.00, for a total value of $2,111,720.00. Following the completion of the sale, the vice president owned 81,849 shares of the company’s stock, valued at approximately $25,373,190. The trade was a 7.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Virginia Magliulo sold 852 shares of the stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $310.01, for a total value of $264,128.52. Following the completion of the transaction, the vice president owned 14,865 shares in the company, valued at $4,608,298.65. This represents a 5.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 50,207 shares of company stock valued at $14,522,300. 0.15% of the stock is currently owned by company insiders.

About Automatic Data Processing

Automatic Data Processing, Inc. (ADP) provides payroll processing and human resources technology and services to businesses of varying sizes. Its offerings include payroll administration, tax filing, benefits administration, workforce management, talent management, and human capital management software. ADP also provides services such as compliance support and professional employer organization solutions, which help businesses manage employment responsibilities. Its products combine software with payroll and HR services to support organizations’ workforce operations.