Samalin Investment Counsel LLC Buys 372 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Samalin Investment Counsel LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 23.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,943 shares of the business services provider’s stock after buying an additional 372 shares during the quarter. Samalin Investment Counsel LLC’s holdings in Automatic Data Processing were worth $442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC grew its stake in shares of Automatic Data Processing by 145.4% in the first quarter. Los Angeles Capital Management LLC now owns 20,006 shares of the business services provider’s stock worth $4,552,000 after purchasing an additional 11,854 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Automatic Data Processing in the first quarter worth $6,772,000. Crewe Advisors LLC bought a new stake in shares of Automatic Data Processing in the first quarter worth $28,000. Capital Investment Advisory Services LLC grew its stake in shares of Automatic Data Processing by 7.1% in the first quarter. Capital Investment Advisory Services LLC now owns 2,701 shares of the business services provider’s stock worth $615,000 after purchasing an additional 178 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its stake in shares of Automatic Data Processing by 14.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 19,931 shares of the business services provider’s stock worth $4,916,000 after purchasing an additional 2,486 shares during the last quarter. Institutional investors own 79.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ADP shares. Cowen boosted their target price on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Barclays boosted their target price on shares of Automatic Data Processing to $280.00 in a report on Tuesday, August 9th. Morgan Stanley boosted their target price on shares of Automatic Data Processing from $235.00 to $245.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Mizuho boosted their target price on shares of Automatic Data Processing from $250.00 to $257.00 and gave the company a “buy” rating in a report on Monday, August 1st. Finally, Cowen boosted their target price on shares of Automatic Data Processing from $225.00 to $230.00 in a report on Thursday, July 28th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average price target of $235.92.

Insider Activity

In other news, VP Donald Weinstein sold 10,150 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the completion of the transaction, the vice president now directly owns 41,035 shares of the company’s stock, valued at approximately $10,258,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Donald Weinstein sold 10,150 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $250.00, for a total transaction of $2,537,500.00. Following the completion of the transaction, the vice president now directly owns 41,035 shares of the company’s stock, valued at approximately $10,258,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carlos A. Rodriguez sold 58,864 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $236.69, for a total transaction of $13,932,520.16. Following the transaction, the chief executive officer now directly owns 44,426 shares of the company’s stock, valued at $10,515,189.94. The disclosure for this sale can be found here. Insiders sold 69,755 shares of company stock valued at $16,630,637 in the last three months. Company insiders own 0.34% of the company’s stock.

Automatic Data Processing Trading Up 1.0 %

ADP opened at $244.30 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $192.26 and a fifty-two week high of $261.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $237.15 and its 200 day moving average is $224.02. The firm has a market capitalization of $101.51 billion, a PE ratio of 34.85, a P/E/G ratio of 2.53 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. Automatic Data Processing had a net margin of 17.87% and a return on equity of 66.25%. The business had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the firm posted $1.20 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 8.05 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Friday, September 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s dividend payout ratio is currently 59.34%.

Automatic Data Processing Company Profile

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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