Capital Counsel LLC NY Has $191.64 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Counsel LLC NY trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 692,516 shares of the business services provider’s stock after selling 1,177 shares during the quarter. Automatic Data Processing accounts for about 8.2% of Capital Counsel LLC NY’s investment portfolio, making the stock its 8th largest holding. Capital Counsel LLC NY’s holdings in Automatic Data Processing were worth $191,640,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC grew its position in Automatic Data Processing by 12.5% in the first quarter. Tidal Investments LLC now owns 25,637 shares of the business services provider’s stock worth $6,397,000 after acquiring an additional 2,846 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Automatic Data Processing by 95.3% during the 1st quarter. Hancock Whitney Corp now owns 9,165 shares of the business services provider’s stock valued at $2,289,000 after purchasing an additional 4,473 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Automatic Data Processing by 334.5% during the 1st quarter. Beacon Capital Management LLC now owns 378 shares of the business services provider’s stock valued at $94,000 after buying an additional 291 shares during the period. New Covenant Trust Company N.A. bought a new stake in Automatic Data Processing in the first quarter worth $118,000. Finally, Wahed Invest LLC boosted its stake in Automatic Data Processing by 16.1% during the first quarter. Wahed Invest LLC now owns 8,199 shares of the business services provider’s stock worth $2,048,000 after buying an additional 1,135 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $307.97 on Wednesday. The firm has a market cap of $125.49 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $290.64 and its 200 day moving average is $267.03.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $2.08 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be issued a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 59.77%.

Insider Activity

In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now directly owns 92,807 shares in the company, valued at $25,464,384.66. This trade represents a 17.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on 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. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,504 shares of company stock worth $20,298,056. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADP. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus raised their price target on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.