Cable Hill Partners LLC Has $343,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cable Hill Partners LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,233 shares of the business services provider’s stock after buying an additional 130 shares during the period. Cable Hill Partners LLC’s holdings in Automatic Data Processing were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ADP. Entropy Technologies LP purchased a new position in shares of Automatic Data Processing during the first quarter valued at $754,000. Koshinski Asset Management Inc. grew its stake in Automatic Data Processing by 28.9% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,791 shares of the business services provider’s stock valued at $697,000 after acquiring an additional 625 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Automatic Data Processing by 2.0% in the 1st quarter. HBK Sorce Advisory LLC now owns 3,636 shares of the business services provider’s stock valued at $908,000 after purchasing an additional 72 shares during the period. Brighton Jones LLC lifted its position in shares of Automatic Data Processing by 3.2% in the first quarter. Brighton Jones LLC now owns 7,771 shares of the business services provider’s stock worth $1,941,000 after purchasing an additional 238 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of Automatic Data Processing by 13.6% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 15,364 shares of the business services provider’s stock worth $3,837,000 after purchasing an additional 1,844 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank of Canada upped their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. 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. Barclays boosted 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, November 4th. Finally, Citigroup lifted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $307.50 on Thursday. The business’s 50-day simple moving average is $285.39 and its 200-day simple moving average is $262.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $227.12 and a 52 week high of $309.37. The firm has a market cap 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.

Automatic Data Processing (NASDAQ:ADP) last announced 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 return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s payout ratio is currently 65.74%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s 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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, VP Michael A. Bonarti sold 26,442 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the completion of the sale, the vice president now owns 88,426 shares in the company, valued at approximately $23,959,908.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated 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 sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. 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 97,792 shares of company stock valued at $27,691,708 in the last quarter. Insiders own 0.21% of the company’s stock.

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.