Automatic Data Processing, Inc. (NASDAQ:ADP) is First Long Island Investors LLC’s 3rd Largest Position

First Long Island Investors LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 202,446 shares of the business services provider’s stock after purchasing an additional 3,028 shares during the quarter. Automatic Data Processing accounts for about 4.4% of First Long Island Investors LLC’s holdings, making the stock its 3rd biggest position. First Long Island Investors LLC’s holdings in Automatic Data Processing were worth $56,023,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Assenagon Asset Management S.A. boosted its holdings in 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 in the last quarter. Toronto Dominion Bank lifted its position in shares of Automatic Data Processing by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 247,474 shares of the business services provider’s stock valued at $61,804,000 after acquiring an additional 4,253 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Automatic Data Processing by 23.8% during the 2nd 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 in the last quarter. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $209,000. Finally, ORG Partners LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ADP shares. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective 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. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Bank of America boosted their price target on Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. 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 stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Trading Down 1.0 %

ADP stock traded down $2.88 during trading on Friday, reaching $299.11. 254,956 shares of the stock traded hands, compared to its average volume of 1,627,830. The business’s 50 day moving average price is $286.67 and its 200-day moving average price is $263.50. The firm has a market capitalization of $121.88 billion, a PE ratio of 32.04, 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, Inc. has a 52-week low of $227.12 and a 52-week high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. 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 dividend payout ratio is 59.77%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 846 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.60, for a total value of $228,927.60. Following the transaction, the vice president now owns 10,410 shares in the company, valued at approximately $2,816,946. The trade was a 7.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 20.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,792 shares of company stock worth $27,691,708. Corporate insiders own 0.21% of the company’s stock.

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.