Vinva Investment Management Ltd Has $1.38 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Vinva Investment Management Ltd grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 331.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,039 shares of the business services provider’s stock after acquiring an additional 3,872 shares during the quarter. Vinva Investment Management Ltd’s holdings in Automatic Data Processing were worth $1,375,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the second quarter valued at approximately $27,000. Hexagon Capital Partners LLC raised its position in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $35,000. Pathway Financial Advisers LLC acquired a new stake in Automatic Data Processing during the first quarter worth about $36,000. Finally, MFA Wealth Advisors LLC bought a new position in Automatic Data Processing in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $306.93 on Friday. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market cap of $125.06 billion, a PE ratio of 32.76, a P/E/G ratio of 3.57 and a beta of 0.79. The firm has a 50 day simple moving average of $292.45 and a two-hundred day simple moving average of $267.99.

Automatic Data Processing (NASDAQ:ADP) last released its 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. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 EPS. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company 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 dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, December 13th. Automatic Data Processing’s dividend payout ratio is currently 59.77%.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The stock was 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 owns 36,741 shares in the company, valued at $9,899,862.45. The trade was a 20.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,504 shares of company stock valued at $20,298,056 over the last ninety days. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

ADP has been the topic of several research reports. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Barclays raised 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 note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $289.91.

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.