Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by KKM Financial LLC

KKM Financial LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,118 shares of the business services provider’s stock after purchasing an additional 588 shares during the period. Automatic Data Processing makes up 1.4% of KKM Financial LLC’s holdings, making the stock its 26th biggest holding. KKM Financial LLC’s holdings in Automatic Data Processing were worth $2,800,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its stake in shares of Automatic Data Processing by 70.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,507 shares of the business services provider’s stock valued at $152,405,000 after buying an additional 264,466 shares during the period. Plato Investment Management Ltd lifted its stake in Automatic Data Processing by 23.8% in the second quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock worth $6,352,000 after acquiring an additional 5,114 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $209,000. ORG Partners LLC increased its position in shares of Automatic Data Processing by 2,917.1% in the 2nd quarter. ORG Partners LLC now owns 4,224 shares of the business services provider’s stock valued at $997,000 after purchasing an additional 4,084 shares during the last quarter. Finally, RIA Advisory Group LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $470,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ADP. Mizuho boosted their target price 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. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price target on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $289.91.

Insiders Place Their Bets

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 17.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,946 shares of company stock worth $27,462,781. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.2 %

Shares of Automatic Data Processing stock opened at $305.15 on Friday. The company’s fifty day moving average is $289.55 and its two-hundred day moving average is $265.87. Automatic Data Processing, Inc. has a 1 year low of $227.12 and a 1 year high of $309.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $124.34 billion, a P/E ratio of 32.57, a PEG ratio of 3.54 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm 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%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 EPS. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 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. Shareholders of record on Friday, December 13th will be paid a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s payout ratio is currently 59.77%.

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.