Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by KKM Financial LLC

KKM Financial LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% during the third quarter, HoldingsChannel.com reports. The fund owned 10,118 shares of the business services provider’s stock after acquiring an additional 588 shares during the quarter. Automatic Data Processing accounts for approximately 1.4% of KKM Financial LLC’s holdings, making the stock its 26th largest holding. KKM Financial LLC’s holdings in Automatic Data Processing were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter worth about $27,000. Hexagon Capital Partners LLC increased its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Pathway Financial Advisers LLC purchased a new stake in Automatic Data Processing in the 1st quarter valued at approximately $36,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 2nd quarter valued at $40,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADP shares. JPMorgan Chase & Co. upped their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $305.15 on Friday. The firm has a market capitalization of $124.34 billion, a price-to-earnings ratio of 32.57, a price-to-earnings-growth ratio of 3.54 and a beta of 0.79. The company has a 50 day moving average price of $289.55 and a 200 day moving average price of $265.87. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37. 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 (NASDAQ:ADP) last issued 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 return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be paid a $1.54 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s payout ratio is currently 59.77%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s 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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael A. Bonarti sold 26,442 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 directly owns 88,426 shares of the company’s stock, valued at $23,959,908.96. The trade was a 23.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,946 shares of company stock worth $27,462,781. 0.21% of the stock is currently owned by company insiders.

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.