Commonwealth Retirement Investments LLC Acquires 78 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Commonwealth Retirement Investments LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,018 shares of the business services provider’s stock after purchasing an additional 78 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Automatic Data Processing were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the business. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing during the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased its stake in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares in the last quarter. Crewe Advisors LLC bought a new position in Automatic Data Processing in the 1st quarter valued at about $33,000. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter worth $35,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Automatic Data Processing during the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded up $1.96 during mid-day trading on Tuesday, reaching $308.74. 178,030 shares of the stock traded hands, compared to its average volume of 1,627,610. The company has a market cap of $125.80 billion, a price-to-earnings ratio of 32.74, a price-to-earnings-growth ratio of 3.55 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $226.09 and a 1 year high of $308.95. The firm has a fifty day moving average price of $284.74 and a 200 day moving average price of $262.46. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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 business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

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

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated 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 completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Don Mcguire sold 3,179 shares of Automatic Data Processing stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $872,254.02. Following the transaction, the vice president now owns 41,696 shares in the company, valued at approximately $11,440,548.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated 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 of the company’s stock, valued at $9,781,200. This represents a 0.00 % 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 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their target price on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $289.91.

About Automatic Data Processing

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.