Broderick Brian C Has $15.81 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Broderick Brian C lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,118 shares of the business services provider’s stock after selling 898 shares during the period. Automatic Data Processing accounts for about 3.1% of Broderick Brian C’s portfolio, making the stock its 11th biggest holding. Broderick Brian C’s holdings in Automatic Data Processing were worth $15,806,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the second quarter worth $27,000. Hexagon Capital Partners LLC grew its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Automatic Data Processing in the first quarter valued at about $33,000. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $35,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the first quarter worth about $36,000. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 846 shares of Automatic Data Processing 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 transaction, the vice president now directly owns 10,410 shares in the company, valued at $2,816,946. This represents a 7.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,792 shares of company stock valued at $27,691,708 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 1.8 %

Shares of NASDAQ:ADP opened at $301.99 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The business’s 50 day simple moving average is $286.03 and its two-hundred day simple moving average is $263.23. The firm has a market cap of $123.05 billion, a P/E ratio of 32.23, a PEG ratio of 3.58 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, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $2.08 EPS. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. Automatic Data Processing’s payout ratio is presently 59.77%.

Analyst Ratings Changes

A number of analysts have weighed in on ADP shares. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Barclays boosted their price objective 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. Two investment 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.com, the company presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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.