4,597 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,597 shares of the business services provider’s stock, valued at approximately $1,071,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its stake in Automatic Data Processing by 10,832.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock valued at $736,000 after purchasing an additional 3,033 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Automatic Data Processing during the third quarter worth about $220,000. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in Automatic Data Processing by 2.1% during the third quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 9,756 shares of the business services provider’s stock valued at $2,347,000 after acquiring an additional 197 shares during the period. MCF Advisors LLC raised its holdings in Automatic Data Processing by 11.5% in the 3rd quarter. MCF Advisors LLC now owns 2,608 shares of the business services provider’s stock valued at $631,000 after acquiring an additional 270 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in Automatic Data Processing by 3.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock valued at $1,103,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ADP. Mizuho lifted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $3.27 during midday trading on Friday, reaching $243.07. The company had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The stock has a fifty day simple moving average of $246.70 and a 200 day simple moving average of $239.26. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.96 earnings per share. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

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.