Cable Hill Partners LLC Acquires 130 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cable Hill Partners LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,233 shares of the business services provider’s stock after purchasing an additional 130 shares during the period. Cable Hill Partners LLC’s holdings in Automatic Data Processing were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing during the 2nd quarter valued at about $27,000. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $35,000. Crewe Advisors LLC acquired a new position in shares of Automatic Data Processing in the 1st quarter worth approximately $33,000. Finally, Pathway Financial Advisers LLC bought a new stake in Automatic Data Processing during the 1st quarter worth approximately $36,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $307.50 on Thursday. The firm’s 50 day simple moving average is $285.39 and its 200 day simple moving average is $262.92. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The company has a market capitalization of $125.29 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 3.58 and a beta of 0.79. 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 earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the business posted $2.08 earnings per share. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced 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 represents a $6.16 dividend on an annualized basis and a yield of 2.00%. This is a boost 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 payout ratio is presently 65.74%.

Insiders Place Their Bets

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now directly owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of Automatic Data Processing stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the sale, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,792 shares of company stock worth $27,691,708 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the subject of several research analyst reports. Bank of America lifted their price objective on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Citigroup upped their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. 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 stock. According to data from MarketBeat, Automatic Data Processing currently has an average 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.