Claro Advisors LLC Purchases 2,062 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Claro Advisors LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 222.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,988 shares of the business services provider’s stock after buying an additional 2,062 shares during the period. Claro Advisors LLC’s holdings in Automatic Data Processing were worth $827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Petredis Investment Advisors LLC increased its stake in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares during the last quarter. Moors & Cabot Inc. increased its position in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after buying an additional 39 shares during the last quarter. Schmidt P J Investment Management Inc. increased its position in Automatic Data Processing by 0.4% during the second quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after buying an additional 40 shares during the last quarter. Trifecta Capital Advisors LLC raised its holdings in Automatic Data Processing by 22.1% during the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock valued at $61,000 after buying an additional 40 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock worth $206,000 after buying an additional 41 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on 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 sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.60, for a total transaction of $228,927.60. Following the completion of the transaction, the vice president now owns 10,410 shares in the company, valued at $2,816,946. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction on 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 sale, the director now owns 36,741 shares in the company, valued at $9,899,862.45. This trade 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 58,817 shares of company stock valued at $15,999,208 over the last ninety days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $292.29 on Friday. The firm’s 50-day moving average is $276.64 and its 200-day moving average is $256.84. The company has a market cap of $119.63 billion, a price-to-earnings ratio of 32.62, a PEG ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.03. The firm had revenue of $4.80 billion for the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $1.40 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group increased their price target on Automatic Data Processing from $250.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, August 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Bank of America lifted their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $267.83.

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.