Donald L. Hagan LLC Buys Shares of 800 Automatic Data Processing, Inc. (NASDAQ:ADP)

Donald L. Hagan LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 800 shares of the business services provider’s stock, valued at approximately $221,000.

A number of other institutional investors have also made changes to their positions in the stock. TD Asset Management Inc increased its holdings in Automatic Data Processing by 14.2% in the 1st quarter. TD Asset Management Inc now owns 801,857 shares of the business services provider’s stock valued at $200,256,000 after purchasing an additional 99,515 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Automatic Data Processing by 70.7% during the second quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock worth $152,405,000 after buying an additional 264,466 shares during the period. SG Americas Securities LLC boosted its position in shares of Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after buying an additional 34,118 shares during the period. Toronto Dominion Bank grew its stake in shares of Automatic Data Processing by 1.7% in the first quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after buying an additional 4,253 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in shares of Automatic Data Processing by 23.8% in the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after buying an additional 5,114 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP traded up $11.02 during mid-day trading on Wednesday, reaching $302.20. 240,080 shares of the company’s stock were exchanged, compared to its average volume of 1,625,335. The business’s fifty day simple moving average is $282.27 and its 200-day simple moving average is $260.80. The stock has a market capitalization of $123.25 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $219.21 and a 52-week high of $302.20. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating 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 firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the business earned $2.08 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share 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. Investors of record on Friday, December 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.04%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus upped their target price on shares of 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 raised their price target 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. 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 boosted 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 assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction dated 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 owns 92,807 shares in the company, valued at $25,464,384.66. This trade represents 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 available at this link. Also, VP David Kwon sold 846 shares of the company’s stock in a transaction dated 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 owns 10,410 shares in the company, 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. In the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is owned by company insiders.

Automatic Data Processing 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.