Koshinski Asset Management Inc. Purchases 244 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Koshinski Asset Management Inc. increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% during the third quarter, HoldingsChannel.com reports. The fund owned 6,756 shares of the business services provider’s stock after acquiring an additional 244 shares during the period. Koshinski Asset Management Inc.’s holdings in Automatic Data Processing were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Moors & Cabot Inc. raised 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 valued at $1,360,000 after acquiring an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. increased its holdings in shares of Automatic Data Processing by 0.4% during the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock valued at $2,302,000 after purchasing an additional 40 shares in the last quarter. Confluence Wealth Services Inc. lifted its stake in shares of Automatic Data Processing by 5.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after purchasing an additional 41 shares during the period. Cypress Wealth Services LLC lifted its stake in shares of Automatic Data Processing by 4.8% in the 3rd quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock valued at $248,000 after purchasing an additional 41 shares during the period. Finally, Legacy Financial Advisors Inc. boosted its holdings in Automatic Data Processing by 1.3% during the second quarter. Legacy Financial Advisors Inc. now owns 3,471 shares of the business services provider’s stock worth $828,000 after buying an additional 43 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 19,147 shares of Automatic Data Processing 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 in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 $25,464,384.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 10,410 shares of the company’s stock, valued at $2,816,946. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock worth $15,999,208. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $288.36 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66. The stock has a market cap of $118.02 billion, a P/E ratio of 32.18, a PEG ratio of 3.13 and a beta of 0.79. The company has a 50-day moving average price of $273.55 and a 200 day moving average price of $255.45. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $288.50.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, September 13th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

A number of research analysts have weighed in on ADP shares. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Stifel Nicolaus increased their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Bank of America boosted their price target 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 assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $267.83.

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.