Donald L. Hagan LLC Purchases Shares of 800 Automatic Data Processing, Inc. (NASDAQ:ADP)

Donald L. Hagan LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 800 shares of the business services provider’s stock, valued at approximately $221,000.

Several other institutional investors have also recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the second quarter worth $27,000. Hexagon Capital Partners LLC boosted its stake 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 valued at $32,000 after acquiring an additional 51 shares during the last quarter. Crewe Advisors LLC purchased a new stake in Automatic Data Processing during the 1st quarter worth about $33,000. Pathway Financial Advisers LLC acquired a new position in Automatic Data Processing in the 1st quarter valued at about $36,000. Finally, MFA Wealth Advisors LLC purchased a new position in Automatic Data Processing in the 2nd quarter valued at about $40,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 3.8 %

Shares of Automatic Data Processing stock traded up $11.02 during trading hours on Wednesday, reaching $302.20. The stock had a trading volume of 240,080 shares, compared to its average volume of 1,625,335. The firm has a market capitalization of $123.25 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 3.35 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $219.21 and a 1 year high of $302.20. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $282.27 and a two-hundred day simple moving average of $260.80.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating 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 firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the firm posted $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a yield of 2.04%. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ADP. Stifel Nicolaus boosted their price objective on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. UBS Group boosted their price target 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 raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Mizuho raised their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 19,147 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Maria Black sold 19,147 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 transaction of $5,253,553.86. Following the sale, the chief executive officer now directly owns 92,807 shares of the company’s stock, valued at approximately $25,464,384.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,817 shares of company stock worth $15,999,208 over the last quarter. 0.21% of the stock is owned by corporate insiders.

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.