Fiduciary Financial Group LLC Acquires 45 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fiduciary Financial Group LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 990 shares of the business services provider’s stock after purchasing an additional 45 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Automatic Data Processing were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 0.4% in the first quarter. Vanguard Group Inc. now owns 39,769,440 shares of the business services provider’s stock valued at $9,932,020,000 after purchasing an additional 173,298 shares during the last quarter. Wellington Management Group LLP lifted its position in Automatic Data Processing by 4.8% during the fourth quarter. Wellington Management Group LLP now owns 5,492,425 shares of the business services provider’s stock worth $1,279,570,000 after acquiring an additional 249,566 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the period. Capital Research Global Investors grew its position in shares of Automatic Data Processing by 2.3% in the first quarter. Capital Research Global Investors now owns 3,625,186 shares of the business services provider’s stock valued at $905,354,000 after purchasing an additional 81,869 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Automatic Data Processing by 4.1% during the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after purchasing an additional 139,561 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the subject of several recent research reports. Stifel Nicolaus boosted their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Barclays upped their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Bank of America boosted their price objective on shares of Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $267.83.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $288.36 on Friday. The stock has a fifty day moving average of $273.55 and a 200-day moving average of $255.40. The stock has a market capitalization of $118.02 billion, a P/E ratio of 32.18, 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, Inc. has a 52 week low of $205.53 and a 52 week high of $288.50.

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

Automatic Data Processing Dividend Announcement

The business also recently announced 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 was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. Automatic Data Processing’s payout ratio is presently 62.50%.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the sale, the vice president now owns 10,410 shares in the company, valued at $2,816,946. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 of the company’s stock, valued at $2,816,946. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,817 shares of company stock worth $15,999,208. Corporate insiders own 0.26% of the company’s stock.

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.