Pine Valley Investments Ltd Liability Co Purchases 337 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pine Valley Investments Ltd Liability Co increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,935 shares of the business services provider’s stock after purchasing an additional 337 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Automatic Data Processing were worth $2,753,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ADP. Accredited Investors Inc. increased its position in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares during the period. International Assets Investment Management LLC boosted its position in shares of Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares in the last quarter. Holocene Advisors LP purchased a new stake in Automatic Data Processing in the third quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its position in Automatic Data Processing by 242.4% during the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after buying an additional 456,027 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $298.75 on Friday. The firm’s 50-day moving average price is $296.51 and its 200-day moving average price is $271.03. Automatic Data Processing, Inc. has a 52-week low of $227.12 and a 52-week high of $309.63. The company has a market cap of $121.73 billion, a PE ratio of 31.88, a PEG ratio of 3.54 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed 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. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target 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 cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, UBS Group increased 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. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.